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Homes prices poised to end the year in the red

Clear Capital: October marks 13th straight month of annual declines

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Despite a seasonal bump, home prices are poised to end the year in the red, according to a report from data and valuation firm Clear Capital, released Thursday. The firm's Home Data Index fell 2.8 percent year over year in October -- the 13th straight month of annual declines, the report said. On a quarterly basis, the index inched up a slight 0.6 percent from July-October compared to April-June. The index's quarterly data is based on rolling quarters, comparing the last four-month period to the previous three-month period. By comparison, September saw a 3.5 percent quarterly increase. Last week, the Standard & Poor's/Case-Shiller National Home Price Index for August also saw a virtually flat short-term index increase and a year-over-year index decline. "Short-term gains have been nearly eliminated while longer-term performance measures point to mostly negative territory through the turn of the year," said Dr. Alex Villacorta, Clear Capital's director of researc...