U.S. November Home Prices Fell 18.2% Year-over-Year: Chart of the Day

No relief insight for home owners and it’s going to be particularly hard for anyone who wants to sell the house in this market.

According to the S&P/Case-Shiller Index published today, U.S. existing single family home prices plunged a record 18.2% year-over-year in November after a similar drop in the October survey.

The Composite-10 Index which covers 10 metropolitan areas fell 19.1% since November 2007. Among the hardest hit areas Phoenix, AZ led the way with 32.9% year-over-year decline over home values, followed by Las Vegas, NV 31.6% and San Francisco, CA 30.8%. Areas where home prices depreciated the least are Dallas, TX,  3.3% over the past 12-month period, and Denver, CO 4.3% and Cleveland, OH 5.2%.

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