Interest Rate Roundup

Tuesday, January 27, 2009

Another month, another drop in home prices; November's decline comes to 18.2%

The latest figures from S&P/Case-Shiller have just been released. The research group says home prices dropped 2.23% between October and November in 20 top U.S. metropolitan areas. That was a slight increase from the 2.18% drop a month earlier.

On a year-over-year basis, prices fell 18.2% in November, compared with an 18.1% decline in October. The largest YOY drops could be found in Phoenix (-32.9%), Las Vegas (-31.7%), San Francisco (-30.8%), and Miami (-28.7%). Every single market showed a decline, with the most moderate drops found in Dallas (-3.3%) and Denver (-4.3%).


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