Jay Hancock's blog: Metro Washington: Medium-bad home-price decline - Business news: Stock markets, banks and economic observations with columnist Jay Hancock

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January 29, 2008

Metro Washington: Medium-bad home-price decline

The latest Case-Shiller home-price numbers are out this morning. As expected, not pretty. A composite index of home prices in 20 cities fell 7.7 percent for the 12 months ended in November. A 10-city index fell 8.4 percent compared with November 2006. That's about how prices did in Washington (and presumably, Baltimore). The Washington index 7.8 percent for the period -- right with the pack. The worst performers were Miami (minus 15.1 percent), Las Vegas (minus 13.2 percent) and Detroit (minus 13 percent). The best performers were Charlotte (plus 2.9 percent) and Seattle (plus 1.8 percent).

The full Case-Shiller press release is here. The AP story is here. An easy-to-read HTML table of the results is on Calculated Risk, here.

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About Jay Hancock

Jay Hancock has been a financial columnist for The Baltimore Sun since 2001. He has also been The Baltimore Sun's diplomatic correspondent in Washington and its chief economics writer. Before moving to Baltimore in 1994 he worked for The Virginian-Pilot of Norfolk and The Daily Press of Newport News.

His columns appear Tuesdays and Sundays.

Follow @jayhancock1 on Twitter