Home Prices Hit Post-Bust Lows in Most Big Cities

By: Associated Press

Updated: Tue 9:26 AM, Feb 22, 2011

Home prices in a majority of major U.S. cities tracked by a private trade group have fallen to their lowest levels since the housing bubble crashed.

The Standard & Poor's/Case-Shiller index of home prices fell in December from November in all but one of the 20 cities tracked by the report. The only market to see a gain was Washington.

Eleven of those markets hit their lowest point since the housing bust, in 2006 and 2007: Atlanta, Charlotte, N.C., Chicago, Detroit, Las Vegas, Miami, New York, Phoenix, Portland, Ore., Seattle and Tampa, Fla.

The Case-Shiller report measures home price increases and decreases relative to prices in January 2000 and gives an updated three-month average for the metropolitan areas it looks at.

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Home Prices Hit Post-Bust Lows in Most Big Cities

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