Case Shiller Price Index February 2009

The Case Shiller Price Index results for February 2009 have been reported. in most of the 20 cities in the index steep prices continue. On a year over year basis (YoY) the price declines have been dramatic in many major metropolitan areas:

• Chicago: -17.6%
• Detroit: -23.6%
• Miami: -29.5%
• San Francisco: -31.0%
• Washington: -19.2%
• Seattle: -15.4%

In Washington, DC prices are down 19.2% from February 2008 till February 2009; and from peak price, prices are down 33%. Expect further prices declines during 2009 in the Washington metropolitan area.