Keeping you up to date on the latest data releases.
- Home Price Indexes
According to today’s report, the fourth quarter started with broad-based declines in home prices. From September to October, the 10- and 20-city composites declined by 1.1 percent and 1.2 percent, respectively. Nineteen of the 20 cities covered by the indexes saw home prices decrease over the month. On an annual basis, the 10-city composite is down 3 percent and the 20-city composite is down 3.4 percent, and eighteen of the 20 MSAs are also in negative territory. Detroit (up 2.5 percent) and Washington D.C. (up 1.3 percent) were the only two cities to post positive annual gains, while Atlanta fared the worst, declining 11.7 percent from last year. Locally, home prices here in Cleveland dropped 1 percent in October and 2.4 percent from October 2010. The average price of homes here in Cleveland is now below January 2000 levels.