Home prices keep falling in February

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Prices in L.A. and Orange County drop 19.4% from the same month in 2007, one of the biggest decreases in the nation, an index shows.
By Peter Y. Hong, Los Angeles Times Staff Writer
11:14 AM PDT, April 29, 2008
Los Angeles and Orange County home prices were down 19.4% in February from a year ago, among the sharpest drops in the nation, according to an index released today.

That compares with a 12.7% overall drop among 20 metropolitan areas measured by the Standard and Poors/Case-Shiller Home Price Index.


Las Vegas showed the most severe year-over-year decline, 22.8%, followed by Miami (21.7%), Phoenix (20.8%), Los Angeles-Orange County (19.4%), San Diego (19.2%), Tampa (17.5%) and San Francisco (17.2%).

"There is no sign of a bottom in the numbers," said David M. Blitzer, chairman of Standard and Poors' index committee.

Charlotte was the only metro area to show an increase, 1.5%.

The index of 20 metro areas has now fallen 14.8% from its summer 2006 peak.

more:

http://www.latimes.com/business/la-fi-housing30apr30,0,5930483.story