Home Prices Down 1.6 Percent Year Over Year

The S&P/Case-Shiller Home Price Indices through November 2010, shows home prices down 1.6 percent from a year before and 1.0 percent month-over-month. Of the 20 major-metropolitan areas tracked, Washington D.C., San Diego, San Francisco, and Los Angeles were the only cities to post year-over-year price gains. Pat Newport of IHS Global Insight said, despite the decreases, there are reasons for optimism, including rising home sales numbers and the smaller declines calculated by the Federal Housing Finance Agency, which tracks the entire market rather than the 20 cities surveyed by Case-Shiller. More here.

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