America

Home Prices 'Weaken Further'

A home for sale in Jackson, Miss., earlier this month. i i

A home for sale in Jackson, Miss., earlier this month. Rogelio V. Solis/AP hide caption

itoggle caption Rogelio V. Solis/AP
A home for sale in Jackson, Miss., earlier this month.

A home for sale in Jackson, Miss., earlier this month.

Rogelio V. Solis/AP

Home prices decreased 1.3 percent across the nation's 20 major cities in October from September, according to the just-released S&P/Case-Shiller Home Price Indices. Prices were down 0.8 percent from a year earlier.

"There is no good news in October’s report. Home prices across the country continue to fall." David M. Blitzer,Chairman of the Index Committee at Standard & Poor's, says in the firm's report. "The trends we have seen over the past few months have not changed. The tax incentives are over and the national economy remained lackluster in October, the month covered by these data."

Keep in mind, though, other indicators released today show stronger-than-expected growth in consumer spending — which could help give the economy a boost in coming months.

Comments

 

Please keep your community civil. All comments must follow the NPR.org Community rules and terms of use, and will be moderated prior to posting. NPR reserves the right to use the comments we receive, in whole or in part, and to use the commenter's name and location, in any medium. See also the Terms of Use, Privacy Policy and Community FAQ.