The Real Deal Miami

Housing prices saw biggest annual decline in two decades

November 25, 2008 12:27PM

Home values in the third quarter saw their largest
annual decline
in more than two decades. Home prices nationwide were 16.6 percent
lower in the third quarter this year than they were in the same period
last
year, according to the Case-Shiller Home Price Index released today.
Prices in Miami fell 28.4 percent year-over-year. Prices in all of the 20
cities surveyed dropped year-over-year in the third quarter, with the
most significant drops in San Francisco and
Phoenix.