Home Prices Hit Record Lows
Home prices continued their slide in October 2008, with 14 of 20 major metro areas tracked by the S&P's Case-Shiller Home Price Index reporting record price declines.
The three weakest markets in the United States are: Phoenix, with an annual home price decline of 32.7 percent, Las Vegas, down 31.7 percent, and San Francisco, down 31.0 percent. Miami, Los Angeles and San Diego also saw more than 25 percent declines from October 2007 to October 2008.
The Boston market had a more moderate drop, posting a 6 percent annual decline. The markets that performed the best - but still posted price drops - are Charlotte, Dallas and Denver.
The Case-Shiller Home Price Indices are published on the last Tuesday of each month and track the value of single-family homes.
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