Slide in home prices only accelerating, report finds
The latest Case-Shiller numbers don't look pretty.
Home prices fell or were flat year over year in all 20 major metro markets with the sole exception of Washington, with its overheated government-driven economy, according to the S&P/Case-Shiller Composite.
And in ten cities, home values hit their lowest point since prices began falling in earnest four years ago.
Boston area home prices fell 1.5 percent in February - which places Greater Boston in the top five markets with the biggest winter price declines.
Still, here in Greater Boston, we have a long way to go compared to cities that have been truly hammered by the real estate market meltdown - Las Vegas and Phoenix both come to mind.
Despite the declines, home prices remain high in Greater Boston - about 50 percent above 2000 levels.
That's definitely on the high end of the national market, with roughly a dozen cities having either fallen back to prices last seen in 2000 - or hovering at 20 or 30 percent above that mark, Case-Shiller reports.
