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Out today is the latest S&P/Case-Shiller® Home Price Indices, which reveals that prices for existing single-family homes across the U.S. are declining — even in Dallas, which showed an overall 0.1 percent drop in prices from October 2006 to October ’07. Also: Prices have been dropping steadily since August, with declines of 0.7 percent from August to September and 0.8 percent from September to October.
Says economist Robert Shiller in the media release announcing the declines: “No matter how you look at these data, it is obvious that the current state of the single-family housing market remains grim.” In related news, I still don’t think I can afford Felisha Contrell’s house on Strait Lane. –Robert Wilonsky
