Network News

X My Profile
View More Activity
2.7%  Q1 GDP    4.57%  avg. 30-year mortgage     9.5%  Unemployment

Big-City Home Prices Take Record Plunge

Home prices dropped by the biggest annual rate on record in October, according to a key index released moments ago, stoking fears that the plummeting housing market has yet to find a bottom.

According to the S&P/Case-Shiller home price index, 20 of the largest U.S. metro areas showed a record 18 percent rate of decline in October compared with October 2007.

Home prices in the Washington area dropped 2.7 percent from October of 2007 to October of this year, according to the index.

The October-to-October numbers are the most recent available; the lag time in releasing the data is owed to analysis.

Home prices in the 20-city index have tumbled more than 23 percent from their peak in July 2006, which many analysts peg as the peak of the housing bubble.

-- Frank Ahrens
The Ticker is Twittering!

By Frank Ahrens  |  December 30, 2008; 9:39 AM ET
Categories:  The Ticker  | Tags: home prices  
Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   StumbleUpon   Technorati   Google Buzz   Previous: In Focus Today: Consumer Confidence
Next: GMAC Bailout Pushes Dow Up at Opening

No comments have been posted to this entry.

The comments to this entry are closed.

RSS Feed
Subscribe to The Post

© 2010 The Washington Post Company