Home prices are dropping in the nation's largest cities and are expected to fall through next year, with the worst declines coming in areas with high numbers of foreclosures.The Standard & Poor's/Case-Shiller 20-city home price index fell 1.3 percent in October from September. All cities recorded monthly price declines.
Atlanta recorded the largest decline. Prices there fell 2.9 percent from a month earlier. Washington, which had posted increases for six straight months, dropped 0.2 percent in October.
The 20-city index has risen 4.4 percent from their April 2009 bottom. But it remains 29.6 percent below its July 2006 peak.
Source: CNBC