The Case Shiller report for October, 2008 has been released and as expected the numbers look rough. With the credit crisis in full swing in October and the traditional housing selling season over, sellers that did sell took it on the chin in the 20 metro markets Case Shiller analyzes.

What is interesting to me is that for some markets the decline in the last month is almost the complete decline for the past year. Charlotte lost 3.38% between September and October but only lost 4.45% for the year.  Dallas was down 2.39% and 3.04% for the same periods.

The credit crunch is the next wave of pain for home sellers and it is being felt in areas that previously had been immune to pain.

 Case Shiller Index For October 2008

City            Year    6 months        1 Month

Phoenix         -32.65%   -27.15        -5.61
Los Angeles     -27.93%   -23.63        -5.72
San Diego       -26.68%   -22.44        -6.00
San Francisco   -30.98%   -26.19        -7.09
Denver          -5.17%    -0.44         -2.91
Washington      -18.74%   -17.4         -6.07
Miami           -29.03%   -28           -6.30
Tampa           -19.84%   -14.06        -6.80
Atlanta         -10.53%   -4.85         -3.94
Chicago         -10.81%   -5.94         -3.35
Boston          -6.00%    -0.51         -2.81
Detroit         -20.39%   -8.66         -5.07
Minneapolis     -16.29%   -4.73         -5.76
Charlotte       -4.45%    -4.79         -3.38
Las Vegas       -31.68%   -24.32        -5.01
New York        -7.53%    -5.69         -2.74
Cleveland       -6.18%    -1.79         -2.11
Portland        -10.08%   -9.43         -4.23
Dallas          -3.04%    -0.78         -2.39
Seattle         -10.22%   -10.12        -3.39

Related posts:

1. Case Shiller December 2008 Report Shows Consistent Declines
2. Case Shiller March 2009 Numbers – Las Vegas and Phoenix Down 50 Percent
3. Case Shiller November 2008 Report Shows Consistent Declines in Major Cities
4. Case Shiller Report For September 2009
5. Case Shiller January 200 Report Shows Declines in Housing Speeding Up