Housing

Home Prices Keep Falling

Home prices fell again in November, according to the latest numbers from the Case-Shiller index.
Alyson Hurt/NPR

Home prices fell again in November, according to the latest Case Shiller numbers.

Not a surprise, but still worth noting, given that Case Shiller is one of the most important housing indicators, and housing is one of the big trouble spots in the economy (unemployment, obviously, is the other).

A few key numbers from this morning's report:

  • Home prices fell by 1 percent between October and November (according to Case-Shiller's 20-city composite).
  • Prices fell in 19 out of the 20 cities tracked by the index between October and November.
  • Prices fell by 1.6 percent between November of 2009 and November of 2010.
  • Home prices fell in 16 out of 20 cities between November of 2009 and November of 2010.
  • Eight cities hit new, post-bubble lows in November: Atlanta, Charlotte, Detroit, Las Vegas, Miami, Portland, Seattle and Tampa.

Here's the table of home prices in the 20 metro areas tracked by the monthly Case Shiller report:

A few notes on the index: The figures for each month are actually a three-month rolling average. So the November number includes home sales from September, October and November. The index is set so that 100 is equal to the level of home prices in January of 2000. The index is not adjusted for inflation.

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