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'Home prices in 20 U.S. Cities show 18% annual drop'

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Home prices in 20 U.S. Cities show 18% annual drop

01/28/09 12:45

20 Major metropolitan areas have reported in an index that they have seen home prices fall to a level not seen since 2004.

The S&P Case Shiller Home Price Index sampled 20 cities across the nation. Eleven of the cities in the index showed record declines and 14 of the cities had a double digit drop in values.

Southwest cities showed the nation's worst declines, with Las Vegas dropping by 3.9%. Arizona metropolis had the absolute worst 12 month decline with a whopping 32.9%.

Link: No brake on home-price free fall in Case-Shiller index - Jan. 27, 2009

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