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Home prices in 20 major U.S. cities

Written By Trading Forex News on Tuesday, January 26, 2010 | 7:24 AM

Home prices in 20 major U.S. cities
Home prices in 20 major U.S. cities fell 0.2% in November compared with October on a not seasonally adjusted basis, according to the Case-Shiller home price index released Tuesday by Standard & Poor's.

Prices are down 5.3% in the past year, compared with a 7.3% decline in October, S&P said. A year ago, prices had tumbled 18.2%.

The index shows prices in the 20 cities are down 32.6% from the peak. Prices are the same as they were in late 2003.

Prices fell a revised 0.1% in October.

Falling home prices have eroded Americans' wealth. In response, households have increased their savings and cut back spending.

Five of 20 cities saw higher prices in November compared with October: Phoenix, Los Angeles, San Francisco, San Diego and Portland, Ore.

Prices were lower in November than they were a year earlier in 16 of the 20 cities. Small year-over-year price increases were found in Dallas, San Francisco, Denver and San Diego. The largest year-over-year decline was seen in Las Vegas, where prices are down 24.5% in the past year.

Prices rose 0.2% on a seasonally adjusted basis in November.

The Case-Shiller index tracks repeat sales of homes in 20 cities.

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