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The News From Case-Shiller: No Bottom In Sight

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The Case-Shiller home-price index fell in all twenty metro regions studied, the first time the index has measured a decline on a year over year basis in every market. The average decline in April was 15.3%, setting the record for the largest drop since the launch of the index in 2000. If there's a bright spot in this news it is in Charlotte and Dallas. Despite being down since last year, these two cities are now enjoying a second month of recovery. Boston, Chicago, Cleveland, Denver; Portland, Oregon and Seattle also saw a bit of recovery. Las Vegas and Miami, however, continue their freefall.