The 10-city home price index dropped 1.1% to 149.89. This is a 3.9% loss from last December and the lowest value since June 2003. The 20-city index also slid 1.1% to 136.71–a 4% drop from last December. The only cities to increase this month were Phoenix and Miami and their gains were meager (.8% and .2%, respectively). The largest one-month drops were in Detroit (down 3.8% to 68.39), Chicago (down 2% to 110.23), and Atlanta (down 1.8% to 87.3). This is the worst month for the home price index since 2009.
For more information, see our home price index report.
-from The St. Louis Federal Reserve and Case-Shiller