The 10-city composite and 20-city composite S&P/Case Shiller Home Price Indices dropped 1.3% this month to 151.90 and 138.49, respectively. These are the lowest composite index values reported since April 2011. The 10-city index is down 3.6% from last November while the 20-city index decreased 3.7%.
Phoenix was the only market that increased in November, rising .6% to 101.12. The Chicago market declined the most, plummeting 3.4% to 112.46. In addition, Atlanta fell 2.5% to 88.93, Detroit decreased 2.4% to 70.66, and San Francisco declined 1.9% to 129.78.
For more information, see our Home Price Index Report.
-From the St. Louis Federal Reserve