Home Prices Take Steepest Tumble Since 2000

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• Long Way Down for NYC, Boston Home Prices

  Dec 31, 08 10:02 AM CST
  New York, Boston, and Charlotte, NC, are at the center of the financial industry, but so far those cities haven’t seen home prices plummet the way they have in the rest of the country. New York’s single-family-home prices are down from their 2006 highs, roughly half the decline in the overall S&P/Case-Shiller index. But those cities can’t buck the trend forever, the Wall Street Journal reports, meaning prices have a steep drop ahead. More »

• Home Prices Take Another Nose-Dive

  Dec 30, 08 9:07 AM CST
  Home prices in 20 US cities plunged 18% in October over the previous year, a record-breaking rate, Bloomberg reports. The S&P/Case-Shiller index, which has declined every month since January 2007, dropped 17.2% in September. "The bear market continues; home prices are back to their March 2004 levels,"  the chairman of S&P's index committee tells the Wall Street Journal. More »

• Home Prices Fall Again; Rate of Decline Sets Record

  Jul 29, 08 11:01 AM CDT
  Home prices continued to nosedive in May, a signal that the housing crisis may be worsening and a red flag for the credit markets and Wall Street, reports the New York Times. Every region covered by the S&P/Case-Schiller home-price index showed a drop compared to May 2007, with the rate of decline setting a record for the 21-year-old metric.
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• Retirees Scoop Up Bargains in Housing Slump

  Jun 27, 08 2:05 AM CDT
  Retired Americans who can afford new bargains are enjoying the drop in housing value in once-exorbitant sun havens where prices have plunged as much as 25%. Miami, Phoenix and Las Vegas—formerly at the forefront of soaring prices—are now leading the decline, the New York Times reports. Homebuyers who waited to purchase took a risk because prices could have surged, but were rewarded with more than $100,000 in savings. More »

• Home Prices Take Record Dive

  Apr 29, 08 11:24 AM CDT
  A key measure of home prices fell fell 12.7% in February, the biggest decline in its 7 years of existence, and consumer confidence measured this month hit a 5-year low, Bloomberg reports. The S&P/Case-Shiller home price index reflects the crush of foreclosures and resultant tightening of lending standards. “There is no sign of a bottom in the numbers,” said an S&P spokesman. More »