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Home Price Declines Worsen As We Enter the Fourth Quarter of 2008 According to the S&P/Case-Shiller Home Price Indices

News release: “Data through October 2008, released today by Standard & Poor’s for its S&P/Case-Shiller1 Home Price Indices, the leading measure of U.S. home prices, shows continued broad based declines in the prices of existing single family homes across the United States, with 14 of the 20 metro areas showing record rates of annual decline and 14 now reporting declines in excess of 10% versus October 2007.”

  • “The S&P/Case-Shiller Home Price Indices are calculated monthly using a three-month moving average and published with a two month lag. New index levels are released at 9am EST on the last Tuesday of every month.” The current stats [excel] are dated October 2008 and were released December 30, 2008.
  • U.S. home prices fell at their sharpest pace in October
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