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US homes cheaper
Source: Agencies |
December 29, 2010, Wednesday
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HOME prices are dropping in the largest cities in the United States and are expected to fall through next year, as fewer people purchase homes and millions of foreclosures come on to the market.
The Standard & Poor's/Case-Shiller 20-city home price index released yesterday fell 1.3 percent in October from September.
All cities recorded monthly price declines. The last time that happened was in February 2009.
Atlanta recorded the largest decline. Prices there fell 2.9 percent from a month earlier. Home prices in Washington dropped 0.2 percent in October, the second monthly decline after five straight increases.
Home prices in Dallas in Texas, Portland in Oregan, Charlotte in North Carolina, Tampa in Florida and Denver in Colorado have declined for four consecutive months.
The 20-city index has risen 4.4 percent from their April 2009 bottom. But it remains 29.6 percent below its July 2006 peak.
The Standard & Poor's/Case-Shiller 20-city home price index released yesterday fell 1.3 percent in October from September.
All cities recorded monthly price declines. The last time that happened was in February 2009.
Atlanta recorded the largest decline. Prices there fell 2.9 percent from a month earlier. Home prices in Washington dropped 0.2 percent in October, the second monthly decline after five straight increases.
Home prices in Dallas in Texas, Portland in Oregan, Charlotte in North Carolina, Tampa in Florida and Denver in Colorado have declined for four consecutive months.
The 20-city index has risen 4.4 percent from their April 2009 bottom. But it remains 29.6 percent below its July 2006 peak.
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