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percent. The bad news is that the average pricer of a Seattle homedropped 16.8 percent in Aprip from a year which is getting closer to the nationaol average decline of 18.1 percent. A montu earlier, the Standard & Poor’s/Case-Shiller Home Pricd Indices, a monthly index that tracks home price in 20major U.S. cities, indicated a 16.1 percent home pricw drop in Seattle. Between March and April, in the nation’z 20 largest cities covered by the the national average wasa 0.6 percentf drop. From April 2008 to April all 20 U.S. markets posted The markets showing the smallest declines wereDenver (downb 4.9 percent), Dallas (down 5 and Boston (down 7.7 percent).
In Phoenix, home pricesx fell 35.3 percent in the past year and in Las theyfell 32.2 percent. The survey tracksz changes in the value of the residentialk real estate market by comparing sale pricese of specific sample homes in a city at two different times. The survey assigns an index numbef to each city and does not report actuaphome prices. The index is a measure of how much home priceas have gone up or down in each market sinceJanuary 2000, which has been assigned a price index of 100 in that
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