Home Prices Continue Downward Trek

Prices continue to fall, they have fallen the most in South Florida since the start of the crash, appraised values are systematically higher than market values and city governments’ revenues will continue to be squeezed.

Home prices dropped more than forecast in October, a sign housing will remain a weak link as the U.S. recovery accelerates into the new year.The S&P/Case-Shiller index of property values fell 0.8 percent from October 2009, the biggest year-over-year decline since December 2009, the group said today in New York. The decrease exceeded the 0.2 percent drop projected by the median forecast of economists surveyed by Bloomberg News.

via Home Prices in U.S. Decrease More Than Forecast – Bloomberg.