Case-Shiller: Home Prices Nationwide Drop
Home prices in 19 of the top 20 cities in the nation, including Boston, fell in October compared to the month before, dragging down the Case-Shiller Home Price Index by 1.2 percent.
The Index, which measures home prices nationwide, also dropped for the top 10 cities in the nation by 1.1 percent.
Compared to October 2010, home prices have dropped in the 20-city index by 3.4 percent and in the 10-city index by 3 percent.
On an annualized basis, meaning the change in home prices over a combined 12-month period, Boston was one of 14 cities that saw its annualized rate of home prices improve slightly between September and October. That means that even though home prices are falling in those 14 cities, homes lost less value in October compared to September.
Atlanta showed the largest drop in home prices at more than 11 percent while Phoenix posted the only gain.
The Case-Shiller index did have some spots of positive news: Existing single-family home sales rose nationwide in November. Single-family housing starts also rose on the month, though they are down 1.5 percent compared to a year earlier.
WBJ Web Partners
Most Recent
Most Recent
0 Comments