Home prices fell 0.7% in September — the second monthly decline since July – with values sliding in 18 of the 20 cities measured by the Standard & Poor's/Case-Shiller house price index.
On an annual basis, home values are up 0.6% from September 2009. (The S&P Case-Shiller index tracks prices in 20 U.S. cities.)
However, there has been a "clear deceleration" in prices in the third quarter, according to David Blitzer, chairman of S&P's index committee.
From August to September prices rose in only two markets: Las Vegas and Washington D.C. Prices in Vegas rose by only 0.1%. "Overall, there are few, if any, good numbers in this month's data," Blitzer said.
Since September 2009, prices are up in only five markets: Boston (0.4%), Los Angeles (4.4%), San Diego (5%), San Francisco (5.5%) and Washington D.C. (4.5%).