Prices decline to record levels for the Case-Shiller Home Price Index released today. The 10 city composite index showed a decline of 6.7% which is the largest decline ever recorded. The previous record of a 6.3% decline was recorded in April of 1991. While the 20 city composite index did not show a record, all the cities showed declining prices. Miami and Tampa showed the largest declines in the index showing declines of 12.4% and 11.8% respectively. Looks like Florida is experiencing the largest declines and things sure don’t look good for the first part of 2008 in the Orlando real estate market.
Interview of Robert Shiller & David Blitzer on November 27, 2007: [quicktime]http://www.infobleops.net/s_p/case-shiller-11-27-07.mp3[/quicktime]