Home prices decline in third quarter

Dennis Norman

Dennis Norman

This morning S&P/Case-Shiller Index report for the third quarter or this year was released showing home prices declined 2.0 percent in the third quarter after having risen 4.7 percent in the second quarter.

Nationally, home prices are 1.5 percent below where they were a year ago. In September, 18 of the 20 metro areas covered by the report had declines in the home price index.

From their peak in June/July of 2006 through September 2010, the home price index is down almost 29 percent for the composite of the 20 metro areas covered by the report.

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