Case-Shiller: Home values down 4% last year.

The December Standard & Poors / Case-Shiller Index reports USA home values in the fourth quarter the USA were down 3.7% in 2011, bringing them to a level last seen in early 2003.

Values had edged upward in the summer months, but just like in 2010, the welcome gains were lost in a weak fourth quarter.

In Seattle, the mid-summer rally was erased with a 3.4% drop in the fourth quarter, bringing the year to an overall decline of 5.6% for the year, reaching a level last seen in mid-2004.

The number of home sales in Seattle was 1.4% lower in 2011 from 2010. The average sales price was $440,491.

For more information, visit the S&P website.

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2 responses to “Case-Shiller: Home values down 4% last year.

  1. Robert Shiller, the Yale University economist who helped create the index, offered this tempered analysis to reporters on a conference call: “We might be on the verge of a recovery, but we might not.”

  2. Pingback: Headlines: 2.28.2011 | Northwest Dwellings

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