Home Prices Edged Down in November

New York, NY, Jan. 26, 2010--Home prices fell 0.2% in November compared with October, according to the Case-Shiller home price index released Tuesday by Standard & Poor's.

Prices in the 20 major markets that the survey measures are down 5.3% in the past year, compared with a 7.3% decline in October, S&P said. A year ago, prices had tumbled 18.2%.

The index shows prices in the 20 cities are down 32.6% from the peak. Prices are the same as they were in late 2003.

Five of 20 cities saw higher prices in November compared with October: Phoenix, Los Angeles, San Francisco, San Diego and Portland, Ore.

Prices were lower in November than they were a year earlier in 16 of the 20 cities. Small year-over-year price increases were found in Dallas, San Francisco, Denver and San Diego.

The largest year-over-year decline was seen in Las Vegas, where prices are down 24.5% in the past year.