August S&P/Case-Shiller Index: Down 11.3% YOY

The latest S&P/Case-Shiller home price index figures were just released. On a month-over-month basis, prices were up 1.2% in 20 top metropolitan areas in August. That marked the fourth consecutive monthly gain. On a year-over-year basis, home prices were down 11.3%. That was better than the 11.9% decline economists were expecting and an improvement from the 13.3% drop in July. All 20 cities are still showing YOY declines, but the rate of depreciation is moderating. The best market? Dallas at -1.2%. The worst? Las Vegas at -29.9%.