Home prices fall by 6.1% from October 2006

The fall in home prices is spreading to other regions and the areas that were not affected by the reduction in home prices are also showing a fall in prices in the last few months. The home prices fell by 6.1 % in 20 metro cities since October 2006 as compared to 4.9% decline shown in the month of September.

The study on accelerating decline in home prices was conducted by the Standard & Poor’s/Case-Shiller indexes showed that the three regions Seattle, Portland, Ore and Charlotte which were not much affected earlier by the reduction in home prices were also seen effected in the last few months.