David M. Blitzer
Major cities see home prices drop most since '06Posted by RJ and Makay on Feb 22, 2011 |
>> Read More RJ & Makay Blog Posts
Home prices in most major U.S. cities have fallen to their lowest levels since the housing bubble burst, shows the latest reading of the Standard & Poor's/Case-Shiller index. The 20-city index fell 1% from November to December, and Washington was the only city in the index to see its home prices rise during that period.
The overall decline in the index was the sixth in as many months and the eighth in the past 11 months. Furthermore, in December, housing prices in 11 of the cities in the index hit their lowest point since the housing bust of 2006 and 2007. Those cities were Atlanta, Charlotte, NC, Chicago, Detroit, Las Vegas, Miami, New York, Phoenix, Portland, OR, Seattle, and Tampa, FL.
