The annual rate of home-price decline improved in November in the 10-City and 20-City Composites tracked as one of the S&P/Case-Shiller Home Price Indices released yesterday. The 10-City and 20-City Composites declined 4.5 percent and 5.3 percent, respectively, in November compared with the same month last year. All 20 metro areas and both composites showed an improvement in the annual rates of decline in November compared with October.
“While we continue to see broad improvement in home prices as measured by the annual rate, the latest data show a far more mixed picture when you look at other details,” said David M. Blitzer, chairman of the Index Committee at Standard & Poor’s. “…there are still some markets that continue to improve month-over-month. Los Angeles, Phoenix, San Diego and San Francisco have seen prices increase for at least six consecutive months. Looking at the annual figures, four markets – Dallas, Denver, San Diego and San Francisco – have finally entered positive territory, something we really haven’t seen in at least two years in most markets.”
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