The decline in home prices accelerated and spread to more regions of the country in October, according to a series of private indexes released Wednesday.
Prices fell 6.1 percent from October 2006 in 20 large metropolitan areas, according to Standard & Poor's/Case-Shiller indexes, compared with a 4.9 percent decline in September. All but three of the 20 regions saw real estate values fall, and even the three places — Seattle, Portland, Ore., and Charlotte, N.C. — where prices were up from a year ago saw prices fall from a month earlier.
- Prices have fallen 7% YoY
- Prices fell 1.1% September to October
- Prices fell 0.4% August to September
To me, the ominous data point is the increasing rate of month/month decline in the DC area.