Home Prices Drop Over Past 12 Months
Kurt Brouwer October 30th, 2007
We previously reported on slumping prices for homes in Major Turning Point?–Robert Schiller and Housing Prices Fall 3.2% Now, there is an interesting post from Justin Fox at Time’s Curious Capitalist Blog. He put together a report on the current status of home prices in major metropolitan areas. The report is based on the findings of the Case - Schiller Index [emphasis added]:
‘The headline number in the S&P/Case-Shiller Home Price Indices released this morning was that U.S. home prices dropped 4.4% in the 12 months ending in August. But it’s in the metropolitan-area details that the Case-Shiller data gets really interesting. So with the help of Time.com graphics whiz Feilding Cage, I charted them:…’
Click to enlarge chart
Justin Fox goes on to discuss the varying results for different metropolitan and there is no discernible pattern here as far as I can tell: