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Tags: home | prices

Home Prices Still Falling Fast, Down 18.2 Percent

Tuesday, 27 January 2009 09:15 AM EST

Prices of U.S. single-family homes plunged a record 18.2 percent in November from a year earlier, indicative of a U.S. housing market that is still in the throes of a deep recession, according to the Standard & Poor's/Case-Shiller Home Price Indices.

The composite index of 20 metropolitan areas fell 2.2 percent in November from October, S&P said in a statement on Tuesday. The depreciation on a month-over-month basis was slightly worse than expectations based on a Reuters survey of economists.

The year-over-year price drop, however, was slightly better than expectations.

S&P said its composite index of 10 metropolitan areas fell 2.2 percent in November from October for a 19.1 percent year-over-year drop, matching the previous month's record drop.

"The freefall in residential real estate continued through November 2008," David M. Blitzer, Chairman of the Index Committee at Standard & Poor's, said in a statement.

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Economy
Prices of U.S. single-family homes plunged a record 18.2 percent in November from a year earlier, indicative of a U.S. housing market that is still in the throes of a deep recession, according to the Standard & Poor's/Case-Shiller Home Price Indices.The composite index of...
home,prices
144
2009-15-27
Tuesday, 27 January 2009 09:15 AM
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