The latest Standard & Poor’s/Case-Shiller home-price indices report, updated through November 2011, continues a downward trend, "and there are few, if any, signs in the numbers that a turning point is close at hand," said David Blitzer, an S&P indices executive.

The firm’s monthly 20-city and 10-city indices track housing prices for single-family homes in large, geographically diverse U.S. metropolitan areas. The indices were down both for the month and for the year: each experienced a 1.3 percent drop in November over October levels, and fell 3.6 percent and 3.7 percent, respectively, year over year in November 2011.

The latest Standard & Poor’s/Case-Shiller home-price indices report, updated through November 2011, continues a downward trend, "and there are few, if any, signs in the numbers that a turning point is close at hand," said David Blitzer, an S&P indices executive.

The firm’s monthly 20-city and 10-city indices track housing prices for single-family homes in large, geographically diverse U.S. metropolitan areas. The indices were down both for the month and for the year: each experienced a 1.3 percent drop in November over October levels, and fell 3.6 percent and 3.7 percent, respectively, year over year in November 2011.

The drop is spread fairly evenly across the 20 tracked metros. Eighteen of the 20 experienced year-over-year declines, and 19 of the 20 experienced month-to-month declines.

Detroit and Washington, D.C., are the only metros among the 20 with year-over-year rises in home price, according to the report, released Tuesday. Phoenix, the only metro with a month-to-month increase for November, posted a 0.6 percent increase.

Atlanta posted a 2.5 percent month-over-month decline in November, continuing it steep slide, which tops the 20 metros in its year-over-year drop, at 11.8 percent. Las Vegas, in year-over-year decline, is not far behind with a 9.1 percent drop.

The 10- and 20-city composite indices, which track pretty closely, reached their peaks in 2006, and November 2011’s numbers put both composite indices just slightly above their seven-year lows, at 1 percent and 0.6 percent, respectively.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top
We are less than 1 week away from Inman Connect! Get your ticket for $99 before prices go up next week.GET YOUR TICKET×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription