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Article: NO CONFIDENCE; Home prices, consumer numbers plunge again.(BUSINESS)
- Article from:
- The Washington Times (Washington, DC)
- Article date:
- December 31, 2008
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Copyright informationCOPYRIGHT 2008 The Washington Times LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: David M. Dickson, THE WASHINGTON TIMES
Home prices plunged at a record rate in October, reaching their lowest levels in 4 1/2 years, a closely monitored housing report revealed Tuesday.
With home foreclosures and layoffs continuing to rise and consumer confidence plummeting to a record low in December, housing prices are not likely to hit bottom anytime soon, analysts say.
Home prices in the Washington metropolitan area declined 2.7 percent in October, the largest monthly decrease on record. Compared with October 2007, Washington-area prices were 18.7 percent lower, according to the Standard & Poor's/Case-Shiller Home Price Indices.
House prices in ...
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