Industry NewsMarkets & Economy

Home prices slowed descent in August

Case-Shiller indices continue climb from April trough
Published on Oct 27, 2009

The annual rate of price declines slowed from July to August in 19 of 20 metro areas tracked by the S&P/Case-Shiller Home Price Indices, marking seven months of improved readings, Standard & Poor's said today in releasing the latest numbers.The 20-city composite was down 11.3 percent in August compared to a year ago, with price drops in individual metro areas ranging from a high of 29.9 percent in Las Vegas to a low of 1.2 percent in Dallas.In July, the 20-city composite was down 13.3 percent from a year ago, with annual price declines ranging from 31.4 percent in Las Vegas to 1.3 percent in Cleveland.Cleveland was one of only three markets to register month-over-month price declines from July to August, and the only metro area in which the annual rate of price declines did not improve from July to August.The S&P/Case-Shiller indices showed home prices in Cleveland down 2.8 percent from a year ago, and falling 0.5 percent from July to August. The other markets registering m...

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