Thursday, October 2, 2008

Home Prices Plunge, But Pace of the Decline Slows

New York Times (10/01/08) P. C3
During the year-over-year period ended in July, the Standard & Poor's/Case-Shiller 20-city housing index plunged 16.3 percent and the 10-city index posted its largest decline ever of 17.5 percent. Prices slid nearly 30 percent in Las Vegas, 29 percent in Phoenix and 28 percent in Miami; while just seven cities--including Atlanta, Boston, Dallas, Denver and Minneapolis--registered gains on a month-to-month basis. While experts see no sign of prices bottoming out, the index reveals a decline of just 2.2 percent in prices from May to July.

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