Case-Shiller

It’s become a broken record of late: Home-price declines breaking records. With the economy on the skids and the subprime crisis still unfolding, home values are getting devoured first. This morning the S&P/Case-Shiller home-price index was released, revealing that the trend doesn’t show any signs of slowing down. The 20-city index showed year-to-year August price declines of 16.6 percent. Minneapolis saw a drop of 13.3 percent over the year period, with a 1 percent decline from July to August.

On the brink of the greatest Wall Street bailout ever, home prices continue to decline nationwide, according to the most recent S&P/Case-Shiller Home Price Index. Data released today reveals that 20-city home-price composite indices have reached record-level declines of 16.3 percent for the period of July 2007 to July 2008. In fact, every city was saddled with a year-to-year decline, with Minneapolis reporting a 13.1 percent price drop.