‘No good news’ in latest Case-Shiller study

“The double-dip is almost here, as six cities set new lows for the period since the 2006 peaks. There is no good news in October’s report. Home prices across the country continue to fall.”

– David M. Blitzer, chairman of Standard & Poor’s Index Committee, on the findings of the latest Case-Shiller Home Price Indices. Home values in the nation’s 20 largest metropolitan areas dropped 1.3% from September to October and 0.8% from October 2009 to October 2010.

In Chicago, home values fell 2% from September to October and 6.5% year-over-year. Values are down 27.5% from their peak in September 2006.

Chicago condo values dropped 2.5% from September to October and 11.8% year-over-year. Values are down 24.5% from their peak in September 2007.

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