S&P Case-Shiller Report - Home Values Continue to Plummet

As reported by CNNMoney.com - "Home prices see another record plunge":

Home prices fell in August for the 25th consecutive month and prices in 10 major markets plunged a record 17.7% year over year, according to a key index of real estate values released Tuesday.

The S&P Case-Shiller Home Price 10-city index dropped 1.1% for the month. The 20-city index recorded a record year-over-year decline of 16.6% with a 1% fall in August.

Markets where values were hit the hardest:

The hardest hit of all 20 cities on a year-over-year basis was Phoenix, where prices plummeted 30.7% during the past 12 months. Las Vegas prices plunged 30.6% and Miami sank 28.1%.

Markets where values were the most stable:

The cities that held up the best were Dallas, which saw a decline of just -2.7%, Charlotte NC (down -2.8%) and Boston (off -4.7%).

During the past 12 months, no city was able to show a price gain. Declining housing prices continue to rule the day.