The S&P Case-Shiller Home Price index was released on 12/30 and its indicies shows that Phoenix metro home prices have fallen by 33% from October '07 to October '08. Of the 20 metros in the index, Phoenix has the steepest drop, followed by Las Vegas, San Francisco, Miami and Los Angeles.This may not be any entirely fair assessment of the market as October will go down as one of the worst financial months in this countries great history. October had the worst month in the US history for the stock market and President Bush signed a $700 billion dollar plan the same month, but there is no way to spin this into a postive light.
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