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SPOTLIGHT: A slowing decline in home prices

Home prices continued to drop in August, but the rate of decline slowed, according to First American CoreLogic Inc.’s Home Price Index. Nationally, home prices fell 10.1 percent from August 2008 to August 2009, an improvement on July’s year-over-year decline of 11.6 percent. Prices were up in August for some New York metro areas-0.41 percent in Syracuse and 0.19 percent in Buffalo. Prices in the Rochester metro area were down 0.97 percent from August 2008. That decline was much smaller than the state average of 7.71 percent. The index also projected 12-month appreciation for Rochester home prices at 3.46 percent.

-Julia Dickinson

11/6/09 (c) 2009 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or e-mail rbj@rbj.net.

 

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