Home prices continued to fall as the economic downturn deepened in September, according to the S&P/Case-Shiller home-price indexes and the Federal Housing Finance Agency home price index.Don't worry. As people have been predicting for three years now, the recovery is right around the corner.
"The turmoil in the financial markets is placing further downward pressure on a housing market already weakened by its own fundamentals," Case-Shiller index committee chairman David Blitzer said.
For the third quarter, the Case-Shiller national index posted a 16.6% decline in home prices from a year earlier, worse than the 15.1% drop posted in the second quarter.
Wednesday, November 26, 2008
S&P/Case-Shiller: House prices down 16.6% year over year
S&P/Case-Shiller released their latest home price index numbers yesterday: