Tuesday, October 28, 2008

DFW Home Prices Drop

slide in U.S. home prices gained speed in August.

And home prices in the Dallas-Fort Worth area dipped lower as well.

Home prices fell by a record 16.6 percent in Standard & Poor's/Case-Shiller's monthly housing report.

In the D-FW area, prices fell 2.7 percent in August from a year ago in the benchmark home survey.

Out of the 20 markets Case-Shiller tracks, "13 of them had their annual returns worsen from last month's report," S&P's David M. Blitzer said in the survey. "As seen throughout 2008, the Sun Belt markets are being hit the most."

None of the cities Case-Shiller follows had an increase in home prices from last year.

The sharpest declines were in Las Vegas and Phoenix ­ down more than 30 percent.

The D-FW area had the smallest home price decline of all the cities in the report. But the annual dip in home values here grew slightly from July to August.

Full Story DallasNews.com

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