Dallas Metro area home prices started the new year with an almost 5 percent drop in home prices. The local decline was the lowest among 20 cities included in the January Standard & Poor's/Case-Shiller Home Price Index.

Nationwide home prices were down by a record 19 percent. The worst price declines were in Phoenix, down 35 percent; Las Vegas, down 32.5 percent, and San Francisco, which fell 32.4 percent.

The survey tracks the prices of typical single-family homes located in each metropolitan area. The index survey does not include condominiums and townhouses. It only covers pre-owned properties – no new construction.

S&P CASE-SHILLER HOME PRICE INDEX
Percentage change in home prices in January 2009 compared to year earlier in each market.
Atlanta -14.3%
Boston -7.3%
Charlotte -8.2%
Chicago -16.4%
Cleveland -5.2%
Dallas -4.9%
Denver -5.1%
Detroit -22.6%
Las Vegas -32.5%
Los Angeles -25.8%
Miami -29.4%
Minneapolis -20.4%
New York -9.6%
Phoenix -35.0%
Portland -14.0%
San Diego -24.9%
San Francisco -32.4%
Seattle -15.0%
Tampa -23.3%
Washington -19.3%
Composite-20 city -19.0%
SOURCES: Standard & Poor's; Fiserv

This entry was posted on Tuesday, March 31st, 2009 at 10:02 pm and is filed under Local News. You can follow any responses to this entry through the RSS 2.0 feed.