Home prices continued their decline during the month of November 2010. In many cities across the nation, home values have hit record lows. According to the Standard & Poor's/Case-Shiller home price index, which tracks home price data in 20 major metropolitan areas across the nation, home prices in the 20 cities fell by an average of 1.6% during the month of November when compared to the same month a year earlier.
The index indicates that home prices fell in 16 of the 20 cities tracked from the month of October to November. From October to November the seasonally adjusted home price index dropped by 0.5%. While the index is still above the low hit during the spring of 2009, home prices are still declining and could eventually eclipse that record low. November's home price drop makes 5 consecutive months of declines.
Housing prices in 9 of the major metropolitan areas tracked fell to their lowest values since the recession started. Included in those 9 cities are Detroit and Las Vegas where home values hit their lowest point since the housing bubble burst.
Four of the cities tracked had home prices posted in November 2010 higher than the previous November - Washington, D.C, Los Angeles, San Francisco, and San Diego. Three of those cities are located in the state of California where the bursting of the housing bubble devastated home values.
A home price index released by the Federal Housing Finance Agency on Tuesday January 25th shows that home prices dropped 4.3% for the month of November when compared to the same month a year prior. According to the FHFA's home price index, prices relatively unchanged from November when compared with the prior month. The FHFA's index reflects mortgages which were guaranteed by or sold to Fannie Mae or Freddie Mac.
Notice: In accordance with FTC guidelines, we state that RealEstateProArticles.com has financial relationships with some companies and may be compensated if consumers choose to buy, subscribe or take any action to a product or service via the links on our website. Occasionally, we receive free access to review a product or service. We do not accept compensation in exchange for a positive review. These reviews are strictly the opinions of the author.
![[Valid RSS feed]](http://www.realestateproarticles.com/images/icon_Rss.png "XML Feed For RSS"){kind=icon}
Category Rss Feed
Print This Article
Add To Favorites