Survey: Home Prices Take Record Plunge
A widely watched measure of home prices -- the S&P Case-Shiller Home Price national index -- reported that prices nationally dropped 16.6 percent in the third quarter (pdf) compared with the same period a year ago, beating the previous record decline of 15.1 percent during the second quarter of this year.
The index is useful in comparing regions and cities against each other to find weak and strong housing markets.
The hardest-hit housing markets, according to the index, were, from the bottom up: Phoenix (-31.9 percent), Las Vegas (-31.3) and San Francisco (-29.5).
The two hottest cities, such as they are, were Dallas, down 2.7 percent; and Charlotte, down 3.5 percent.
-- Frank Ahrens
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