S&P: Home Prices Down In October

S&P: Home Prices Down In October Home prices dropped in October in 19 of the 20 cities covered by the S&P/Case-Shiller Home Price Indices.

According to the new S&P data, home prices fell in October 1.1% and 1.2% for the indices' 10- and 20-city composites, respectively. Miami was the only market that saw no change in annual returns in October, while Atlanta, Detroit, Las Vegas, Los Angeles and Minneapolis saw their annual rates worsen. Â

‘There was weakness in the monthly statistics, as 19 of the cities posted price declines in October over September,’ says David M. Blitzer, chairman of the S&P index committee. ‘Eleven of the cities and both composites fell by one percent or more during the month. And even though some of the annual rates are improving, 18 cities and both composites are still negative.’

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