Data through November 2010, released by Standard & Poor’s for its S&P/Case-Shiller Home Price Indices, show a deceleration in the annual growth rates in 17 of the 20 MSAs and in the 10- and 20-City Composites compared with what was reported for October 2010.
The 10-City Composite declined 0.4 percent, and the 20-City Composite declined 1.6 percent from their November 2009 levels. Home prices decreased in 19 of 20 MSAs and in both Composites in November compared with their October levels. In November, only four MSAs – Los Angeles, San Diego, San Francisco and Washington DC – showed year-over-year gains.
As of November 2010, average home prices across the United States are back to the levels where they were in the latter half of 2003.
From C. A. R. Newsline