Home prices in late 2009 showing some weakness

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Recently released report published by Standard's & Poor Case/Shiller confirms that home prices in 20 metropolitan areas mostly dropped in November 2009. Only 4 cities recorded modest gains while the the rest of metropolitan areas saw annual decreases in home values from -13.2% (Tampa, FL) to -0.6% (Washington, DC). The table below shows changes in home values between September and November 2009.

In Chicago area, the difference in home values between November 2008 and November 2009 was -8.5% while last both October 2009 and November 2009, each recorded steady 1% decrease. The graph below shows home values in Chicago area over the last 4 years.