The S&P/Case-Shiller 20-city composite home price index fell 0.7 per cent month-over-month and 3.67 per cent year-over-year in November.Economists were expecting a month-over-month decline of 0.5 per cent and a year-over-year drop of 3.3 per cent.
Since October, 19 of 20 cities reported continued price declines. Only Phoenix saw prices climb.
“The trend is down and there are few, if any, signs in the numbers that a turning point is close at hand,” said S&P’s David Blitzer.
Last month, we learned the October 20-city index fell 3.4% year-over-year.
Below is data through November.