The Standard & Poor's/Case-Shiller 20-city housing index released Tuesday fell by a record 18 percent from October last year, the largest drop since its inception in 2000. The 10-city index tumbled 19.1 percent, its biggest decline in its 21-year history.
Both the 20-city and 10-city indices have recorded year-over-year declines for 22 straight months. Prices are at levels not seen since March 2004.
Prices in the 20-city index have plummeted more than 23.4 percent from their peak in July 2006. The 10-city index has fallen 25 percent since its peak in June 2006.
None of the 20 cities saw annual price gains in October — for the seventh consecutive month.
Prices in October '08 compared to a year earlier:
Atlanta -10.5%
Charlotte -4.4%
Chicago -10.8%
Cleveland -6.2%
Dallas -3.0%
Denver -5.2%
Detroit -20.4%
Los Angeles -27.9%
Las Vegas -31.7%
Miami -29.0%
Minneapolis -16.3%
New York -7.5%
Phoenix -36.2%
Portland -10.1%
San Diego -26.7%
San Francisco -31.0%
Seattle -10.2%
Tampa -19.8%
Washington, D.C. -18.7%
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