Standard & Poor’s S&P/Case-Shiller Home Price Indices for January 2008 continue to show home prices declining to record levels.
The 10-City index fell 11.4 percent from January 2007. The 20-City index dropped 10.7 percent. Again, both indices reached record lows.
Home prices are declining significantly across the country, with 19 of the 20 cities in the index showing depreciation in home values. Only Charlotte, North Carolina reported a year-to-year price increase with a modest 1.8 percent gain. Miami and Las Vegas had the worst declines, each shedding 19.3 percent of value from last year.
The Atlanta decline also increased, from 3.4 to 4.8 percent.
Photo: Impacto, originally uploaded by Xosé.