Home prices continued to decline in November with S&P’s Case-Shiller index indication a 1.3% decline in both its 10- and 20-city indices. On a year ago basis the 10- and 20-city indices fell 3.6% and 3.7% respectively, worse than the 3.2% and 3.4% respectively reported in October.
For the second consecutive month, 19 of the 20 cities covered reported home price decreases. Phoenix was the only city to report a gain in November, but remains down 3.6% from one year ago. Detroit and Washington are the only cities that have seen prices appreciate over the year, at 3.8% and 0.5% respectively. Atlanta has fared the worst in the past 12 months, falling 11.8%.
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