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The nation suffered "broad-based declines" in home prices in October, according to Standard & Poor's, as it published its last Case-Shiller home price indexes in 2011 today (Dec. 27). Average prices in the largest 20 metro areas dropped 1.2% in October from September. San Diego had a more modest decline: 0.6%. However, compared with October of a year earlier, San Diego's 4.5% drop was worse than the 20-city average decline of 3.4%. Only two cities posted year-over-year increases: Detroit, which has been extremely depressed, and Washington D.C., which lives in a bubble all its own.
(stock photo)
The nation suffered "broad-based declines" in home prices in October, according to Standard & Poor's, as it published its last Case-Shiller home price indexes in 2011 today (Dec. 27). Average prices in the largest 20 metro areas dropped 1.2% in October from September. San Diego had a more modest decline: 0.6%. However, compared with October of a year earlier, San Diego's 4.5% drop was worse than the 20-city average decline of 3.4%. Only two cities posted year-over-year increases: Detroit, which has been extremely depressed, and Washington D.C., which lives in a bubble all its own.
(stock photo)