Home Prices Continue To Fall

0 Shares

NEW YORK, Jan. 31 (UPI) — U.S. home prices declined in both 10-city and 20-city composite indexes in November, the closely watched S&P/Case-Shiller home index report said.

Considered a base line economic indicator showing consumers are confident enough to invest in a home, prices are will well off the April 2006 peak, the report shows.

In November, the 10-city index dropped from 151.98 in October to 150.89, a low unseen since July 2003. The 20-city index dropped from 138.49 to 137.52, a low unseen since March 2003, the report said.

In contrast, the 10-city index stood at 226.91 in April 2006. The 20-city index in that month was at 206.65.

For November, the price index was up slightly in Minneapolis, Denver and Phoenix. It was down in Los Angeles; San Diego; San Fransisco; Washington; Miami; Tampa, Fla.; Atlanta; Chicago; Boston; Detroit; Charlotte, N.C.; Las Vegas; New York; Cleveland; Portland, Ore.; Dallas and Seattle.

UPI - United Press International, Inc.

Since 1907, United Press International (UPI) has been a leading provider of critical information to media outlets, businesses, governments and researchers worldwide.

Join the Discussion

Comment Policy: We encourage an open discussion with a wide range of viewpoints, even extreme ones, but we will not tolerate racism, profanity or slanderous comments toward the author(s) or comment participants. Make your case passionately, but civilly. Please don't stoop to name calling. We use filters for spam protection. If your comment does not appear, it is likely because it violates the above policy or contains links or language typical of spam. We reserve the right to remove comments at our discretion.