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U.S. Home Prices Fall By Record Amount

  • March 31st 2009

by Mark Wellborn

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The Standard & Poor’s/Case-Shiller housing index was released today, and it showed that home prices dropped by the sharpest annual rate on record in January. The index, which monitors housing prices in 20 U.S. cities, revealed that prices have plummeted by 19 percent since January 2008. The statistics for the DC area were in line with the national rate as residential property prices in the city dropped 19.3 percent in the last year.

Home prices in the 20-city index have dropped 29 percent since the middle of 2006, and are now back at late-2003 levels.

To view the full Case-Shiller report, click here.

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/u.s._home_prices_fall_by_record_amount/732.

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