Case-Shiller Index: Home prices down 1.3% In October
Home prices in the Top 20 Metropolitan Areas fell 1.3% in October, according to the Standard & Poor’s Case-Shiller Index. This was the third consecutive monthly drop. Every Metropolitan Area experienced a price drop, with Las Vegas losing the least at 0.2%. Atlanta was the biggest loser suffering a drop of 2.9% over the previous month. The biggest overall loser in this current market downturn continues to be Las Vegas where prices are off 57.0% from their peak. Overall, home prices in the Top 20 Metropolitan Areas are down 29.6% from their July, 2006 peak .
Here’s a look at how the individual Top 20 Metropolitan Areas are performing:
- Phoenix: Down 1.1% over September, down 53.4% from their peak.
- Los Angeles: Down 0.7% over September, down 36.5% from their peak.
- San Diego: Down 1.5% over September, down 36.1% from their peak.
- San Francisco: Down 1.9% over September, down 36.4% from their peak.
- Denver: Down 0.6% over September, down 9.8% from their peak.
- Washington DC: Down 0.2% over September, down 25.7% their peak.
- Miami: Down 1.1% over September, down 48.7% from their peak.
- Tampa: Down 0.9% over September, down 43.2% from their peak.
- Atlanta: Down 2.9% over September, down 24.3% from their peak.
- Chicago: Down 2.0% over September, down 27.5% from their peak.
- Boston: Down 1.2% over September, down 15.4% from their peak.
- Detroit: Down 2.5% over September, down 45.8% from their peak.
- Minneapolis: Down 1.9% over September, down 29.1% from their peak.
- Charlotte: Down 1.1% over September, down 16.1% from their peak.
- Las Vegas: Down 0.2% over September, down 57.0% from their peak.
- New York: Down 2.6% over September, down 20.5% from their peak.
- Cleveland: Down 1.5% overSeptember, down 17.2% from their peak.
- Portland: Down 1.5% over September, down 23.8% from their peak.
- Dallas: Down 1.1% over September, down 8.2% from their peak.
- Seattle: Down 1.3% over September, down 25.6% from their peak.
Since all of the Top 20 housing markets posted losses in October, there should be real concern about the recovery in the housing market.
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