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December 26, 2007 - Forex Economic News
U.S. home prices show record fall in October in S&P/Case-Shiller index.
Home prices in the U.S. fell a record 6.7 percent in October compared to a year ago according to the Standard & Poors/Case-Shiller index released today. October's year over year record decline was the most since April 1991 and October was the tenth successive month of declining prices. The month to month decline from September to October was 1.4 percent. “No matter how you look at these data, it is obvious that the current state of the single-family housing market remains grim,” says Robert J. Shiller, Chief Economist at MacroMarkets LLC. The S&P/Case-Shiller index is a leading gauge of U.S. home prices and measures the single-family home prices in major metropolitan areas with indices that show 10 and 20 city composite results. See the report here(pdf).
Tags: Housing Prices, S&P/Case-Shiller, US Economy------------------- Blog index
