Home Prices Drop in October

“Home prices fell in October for the first time since March according to the monthly Case Shiller Home Price Index released Wednesday.

Both the 10-city index and the 20-city index decreased 0.1 percent from September to 158.77 and 146.08 respectively. The value of the 10 city index fell 0.10 and of the 20-city index dropped 0.09. The 10-city index for October was 3.4 percent higher than it was in October 2011 and the 20-city index showed a 4.3 percent year-year gain.

Economists had expected the 20 city index to dip 0.3 percent in October but show a 4.1 percent year-year improvement. The Federal Housing Finance Administration index for October, reported last week, showed a 0.5 percent month-month increase and a 5.6 percent year-year gain. The median price of an existing single family home, according to the National Association of Realtors, fell 0.8 percent in October but still registered a 10.0 percent year-year increase…”

Read the rest of DSNews.com’s article here: “Home Prices Drop in October; 1st Dip Since March”.

Renee West

I'm a real estate broker associate in Newport Beach & Corona del Mar, CA, with Berkshire Hathaway HomeServices California Properties.
If you have any questions about the real estate market, or are interested in listing or buying, please don't hesitate to contact me at (714) 914-9060 or Renee@bhhscdm.com!

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