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12 Big Cities Where Home Prices Are Sliding

Elena HolodnyOct 28, 2014, 22:11 IST

Home prices are declining. Month-over-month, home prices fell 0.15% in August according to Tuesday's S&P/Case-Shiller report. Additionally, the year-over-year growth rate slipped to 5.6% from 6.7%. These are all reflective of what may be a maturing housing recovery. But all hope isn't lost just yet. "September figures for housing starts, permits and sales of existing homes were all up," the Case-Shiller report states. "Continued labor market gains, low interest rates, and slower increases in home prices could support further improvements in housing,"
Mortgage rates recently fell to a 16-month low, which may encourage more prospective buyers to pull the trigger on a home. Still. 12 out of the 20 cities ranked by Case-Shiller saw a month-over-month decline in August. We've ranked these cities in order to show which housing markets saw price drops in the last month.