Home Prices Fall Further: Case-Shiller

home price
home price

Home prices are slouching lower from an already-low base, according to the latest Case-Shiller Home Price Indices, for November 2010. Indeed, eight of the metropolitan markets covered by Case-Shiller -- including Atlanta, Detroit, Miami and Las Vegas -- dropped to their lowest levels since their 2006 and 2007 market peak, Only four markets monitored by Case-Shiller showed year-over-year price gains -- Washington, D.C., Los Angeles, San Francisco and San Diego. Nineteen out of 20 markets covered by Case-Shiller exhibited price declines for November as compared with October.

Whether these drops represent the dreaded double dip in home values is up for debate, since some industry observers argue that first dip never ended.