Home Values Fall 18% in October
The Standard & Poor's/Case-Shiller 20-city housing index dropped a record 18 percent from October last year. This is the largest drop for the index since its inception in 2000. The smaller 10-city index also tumbled 19.1 percent, its biggest decline in its 21-year history.
Both of these indices have recorded year-over-year declines for 22 straight months. None of the 20 cities in the Case-Shiller index saw annual price gains in October — for the seventh consecutive month — and 14 of them posted record year-over-year declines.
Three metro areas with the largest drops were Phoenix with almost a 33% drop, Las Vegas with nearly a 32% fall, and San Francisco witha 31% decline.
Also today, the Conference Board's Consumer Confidence index dropped to 38 in December from a revised 44.7 in November, well below the expectation of 45 of economists surveyed by Thomson Reuters.
Recent prior related posts:
Home Prices Plunge in 3rd. Quarter
Home Value Index – Largest Drop In History
Real Estate Record Home Price Declines
San Diego Real Estate – 5th Largest Decline Through July
Survey Says Home Values Must Fall Another 14%
May Home Prices Take Biggest Drop Ever
La Jolla Bank Owned Foreclosure
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Why do we think jeopardizing our country’s future for short term gain is a good idea? As a whole, Americans live beyond their means and rely on….credit. You can’t expect Uncle Sam to “fix” all of your personal finance problems. Time to let the chips fall where they may…
Ft Laurderdale bail bondsman
This is all Obama’s and his leftist friends from Chicago fault. Individuals are walking away and not taking responsibility for their financial commitments. They know Obama and Co. won’t do anything. It’s his fault. I can’t wait for him to be defeated in November.
San Diego Cosmetic Surgery Doctor
Three more years of precipitous drops and I’ll be able to afford one….. YEA!
San Diego Cheap Hotels
Nice article. Keep up the great work.