Home Prices Weaken in October


NEW YORK (TheStreet) -- Home prices across the U.S. remained in decline in October, according to Standard & Poor's Case-Shiller Index, and the data left plenty of room for pessimistic interpretation.

"The double-dip is almost here," said David Blitzer, chairman of S&P's index committee. He noted that six cities set new lows for the October period since reaching their 2006 peaks. "There is no good news in October's report."

The Case-Shiller 20-City Composite Index fell 0.8% in October from the same month in 2009. Only four cities -- Los Angeles, San Diego, San Francisco and Washington -- showed year-over-year gains in home values. But the trends even in stronger markets appear to be negative. All 20 of the cities that make up Case-Shiller's 20-City Composite Index saw home prices slide in October compared with September.

-- Written by Scott Eden in New York

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