Jeff Smith noon, March 8
County Home Prices Continue to Decline Among Steepest in the Nation
Standard & Poor's Case-Shiller home price data for September reveal that San Diego County prices dropped 2.4 percent from August. Only six metro areas out of the top 20 did worse. Over the last 12 months, local prices plunged 26.3 percent. Only five did worse. San Diego prices are down 34 percent from the November 2005 high. Collectively, the 20 largest markets were down 17.4 percent over 12 months. In other news, gross domestic product in the third quarter dropped 0.5 percent -- a revision from a 0.3 percent drop in the first release. Consumer confidence this month improved to 44.9 from October's record low 38.8, according to the Conference Board. And the Federal Reserve plans to throw another $800 billion at the credit crisis -- this one aimed at consumers and small businesses.