Dallas home prices fall a little; U.S. prices plunge

Associated Press

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NEW YORK — U.S. home prices plunged by a record 8.4 percent in November, marking two years of slowing returns, according to a key index released Tuesday.

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The decline in the Standard & Poor’s/Case-Shiller 10-city composite home price index was the biggest year-to-year drop since a 6.7 percent decrease in October. The November performance was the 11th straight monthly decline. The index tracks prices of existing single-family homes in 10 metropolitan areas.

Among those 10 cities, Dallas home prices posted the smallest decline, falling only 1.19 percent year-over-year. October marked the first time Dallas housing prices had turned negative in the annual price comparison

The broader 20-city composite index also was down year-over-year, falling 7.7 percent in November.

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