Wikinvest Wire

Case-Shiller home prices

Wednesday, June 25, 2008

This update of the Case Shiller Home Price Index goes out to the folks over at Junk charts who seemed to like it so much last month - note that the x-axis scale has been fixed but there have been no changes to the drop-shadows.
There were a total of eight metropolitan areas with month-to-month gains, led by a 2.9 percent increase in Cleveland, but the more important year-over-year results showed declines in all 20 cities.

Las Vegas and Miami take top honors once again with declines of 26.8 and 26.7 percent, respectively, from year ago levels.

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1 comments:

Anonymous said...

27% is a good haircut. I suspect that there is still more room to move down and would not be surprised to see prices drop as much as 40% off their highs.

Do you have an affordability comparison for these cities... comparing home prices and income. In general home prices always go past but return to a % of income. However, the challenge is that in recession incomes tend to come off too so they are moving at the same time.

JR

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