Are home prices leveling off in the worst-hit housing markets?by
My story today on the latest S&P Case-Shiller 20-city home price index suggests that year-over-year home price drops in Miami, Phoenix, Las Vegas, San Diego, and other battered markets were leveling off in November.
That’s not all that encouraging since prices are dropping more than 30% in many of those markets. But sales are up as buyers take advantage of falling home prices and really low interest rates.
In Palm Beach County, where home prices have been tumbling faster than almost anywhere in the nation, prices dropped less than 1% in December from the previous month, the Palm Beach Post’s Real Time blog points out.