(Source..)
Home prices took a nationwide dive in October, with all 20 cities surveyed by Standard & Poor’s showing declines from September.
The S&P/Case-Shiller Home Price Indices show that housing prices are likely entering a double-dip nationwide. After sharp price declines from 2007 through 2009, a composite index of the nation’s 20 largest cities saw existing home prices rise the first half of 2010. That growth reversed in October.
“The double-dip is almost here, as six cities set new lows for the period since the 2006 peaks. There is no good news in October’s report,” David Blitzer, chairman of the Index Committee at Standard & Poor’s, said in a news release.
Nashville was not part of the S&P study, but a report earlier this month by CoreLogic showed that prices in the Nashville metropolitan area were down 4.75 percent in October compared to a year ago. The S&P composite index of 20 cities showed that prices were down 0.8 percent year-over-year.
The 20 cities included in the index are Atlanta, Boston, Charlotte, Chicago, Cleveland, Dallas, Denver, Detroit, Las Vegas, Los Angeles, Miami, Minneapolis, New York, Phoenix, Portland, San Diego, San Francisco, Seattle, Tampa and Washington. The only cities to show year-over-year growth in home prices were Los Angeles, San Diego, San Francisco and Washington.
The S&P/Case-Shiller Home Price Indices show that housing prices are likely entering a double-dip nationwide. After sharp price declines from 2007 through 2009, a composite index of the nation’s 20 largest cities saw existing home prices rise the first half of 2010. That growth reversed in October.
“The double-dip is almost here, as six cities set new lows for the period since the 2006 peaks. There is no good news in October’s report,” David Blitzer, chairman of the Index Committee at Standard & Poor’s, said in a news release.
Nashville was not part of the S&P study, but a report earlier this month by CoreLogic showed that prices in the Nashville metropolitan area were down 4.75 percent in October compared to a year ago. The S&P composite index of 20 cities showed that prices were down 0.8 percent year-over-year.
The 20 cities included in the index are Atlanta, Boston, Charlotte, Chicago, Cleveland, Dallas, Denver, Detroit, Las Vegas, Los Angeles, Miami, Minneapolis, New York, Phoenix, Portland, San Diego, San Francisco, Seattle, Tampa and Washington. The only cities to show year-over-year growth in home prices were Los Angeles, San Diego, San Francisco and Washington.
Well, my brother is looking to buy a house  But those that already own houses might be in for more pain  |
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