U.S. home prices fell in October for the 10th consecutive month, posting their biggest monthly decline since early 1991, according to the Standard & Poor’s/Case-Shiller home price index.
The record 6.7 percent drop marked the 23rd consecutive month of price deceleration.
“No matter how you look at these data, it is obvious that the current state of the single-family housing market remains grim,” said Robert Shiller, who helped create the index, in a statement Wednesday…
See also:
AP: Massachusetts home sales post double-digit decline (12/19/07)
Home sales in Massachusetts are down by a double-digit percentage for the third month in a row…
…a 15 percent drop in single-family home sales in November compared with the same month a year ago…
Condominium sales fell 23 percent in November.
Condo prices are down 4 percent…
Krugman, NY Times: Home Prices Have Plenty of Room on the Downside (12/14/07)
To restore a historically normal ratio of housing prices to rents or incomes, average home prices would have to fall about 30 percent from their current levels…
Financial Week: “Lennar dumps 11,000 home sites for 40 cents on dollar” (12/3/07)
Republican: Florence condo units sold at half-price (12/4/07)
Gazette: “Foreclosure deeds double in area counties” (12/6/07)