Case Shiller November

Home prices continued to decline across the United States in November 2008, with 11 of 20 major metro areas seeing record annual price drops and over half of areas with declines over 10% from the previous year. The S&P/Case-Shiller 10-City and 20-City home price indices both fell 2.2% in November and matched or set new record lows, with prices back to early 2004 levels following a 25-30% decline from mid-2006 peaks. Phoenix and Las Vegas saw the largest annual declines of over 30%, while Dallas and Denver fared best with single-digit annual decreases.