S&P/Case Shiller: Home prices fall 16.3%
Politics, California Housing Crash, Florida Housing Crash, The Economy, Real Estate September 30th, 2008
The housing market keeps getting worse. Just released numbers from the S&P/Case Shiller Index indicate that the worst is not over yet. According to Reuters:
Home price drops hit fresh records in July: S&P
NEW YORK (Reuters) - Prices of single-family homes plunged a record 16.3 percent in July from a year earlier, extending declines that have plagued the housing market for two years, according to the Standard & Poor’s/Case-Shiller Home Price Indexes.
The S&P/Case Shiller composite index of 20 metropolitan areas fell 0.9 percent in July from June, S&P said in a statement on Tuesday. Since the peak of the housing boom in July 2006, the index has dropped 19.5 percent, it said.
Here is the table of home prices.
You can read the full S&P/Case Shiller report here.
