- Millions Could Have to Repay Part of Obama's Tax Credit
- What Recovery? Many Homeowners Still Underwater
- Gold Is in a 'Bubble' And Will Keep Going Higher: Gartman
- How Will Retail Fare Over Holidays? Signals Are Mixed
- Madoff Auction: $4,750 for a Decoy Duck?
- Slideshow: Madoff's Luxury Boats Go Up for Auction
- How Much Do You Know About Green?
- Solar Energy Emerges From a Dark Period
- Drillers Seek Scotch Lost in Antarctica in 1909
- Mixed Signals Come From Retail Sector as Holidays Draw Near
- Will the S&P 500 Close Above 1100?
- What Were The Northwest Pilots Really Doing?
- Your Jobless Recovery Game Plan
- S&P to Hit 1,175 in the Short Term: Strategist
- Busch: US Health Care Bill a Concern for the Chinese
- Underwater Mortgages Could Sink Even Deeper
- My Market and Fed Outlook Now: BlackRock's Doll
- Farrell: The Market is Still Seeking Reassurance
MOST SHARED
- BlackRock: Central Banks To Be Net Buyers of Gold
- Cisco Ups Tandberg Bid, Claims Over 40% Backing
- Millions May Have to Repay Part of Obama Tax Credit
- Gold Is in a 'Bubble' And Will Keep Going Higher: Gartman
- Weak US Housing Market Drags on Lowe's Profit
- Underwater Mortgages Could Sink Even Deeper
- Madoff Auction: $4,750 for a Decoy Duck?
- Devon to Sell its Gulf, International Assets
- U.S. May Wind Up Green With Envy
Text Size 
Prices of existing U.S. single-family homes recorded their biggest annual drop in October, suggesting the housing slump is far from over, a national home price gauge released Wednesday showed.
The Standard & Poor's/Case-Shiller year-over-year index of 10 metropolitan areas fell to 209.68 in October, down 6.7 percent from a year earlier. The decline surpassed the 6.3 percent drop in April 1991.
"No matter how you look at these data, it is obvious that the current state of the single-family housing market remains grim," said Robert Shiller, chief economist at MacroMarkets, in a statement.
The firms' newer, composite home price index on 20 metropolitan areas declined to 192.89 in October, down 6.1 percent from a year ago.
On a month-over-month basis, both indexes lost 1.4 percent in October compared with September.
Eleven of the 20 metropolitan areas recorded their largest monthly decline on record in October, led by San Diego, where home prices fell 2.6 percent, according to S&P/Case-Shiller.
On an annual basis, single-family home prices in Miami recorded the biggest decline, down 12.4 percent in October, followed by Tampa with an 11.8 percent fall.
Charlotte, Portland and Seattle were the only cities still experiencing annual home appreciation in October, as tracked by the S&P/Case-Shiller indexes.
Print
Email
- Where, what, how.
- CNBC's Jim Goldman asks: Has the sun begun to set on Twitter? Data suggests its best days are over.
- De Loach Vineyards is selling its pinot noir the old fashioned way, helping to cut energy and transportation costs.
- Why are the Chinese concerned about the progress of U.S. health care legislation?
- The president and founder of Genesis Today wants to improve America’s health, and thinks Wal-Mart can help.
- If a terrible driver on your morning commute has you feeling like you want to scream, check this out.
Data is a real-time snapshot *Data is delayed at least 15 minutes