Standalone resale houses sold in November for prices 13.4 percent lower than they sold for in November 2006, according to new data this morning from the Standard & Poor’s/Case-Shiller home price index.
From the peak, in November 2005, the month’s price data marked a 16.3 percent decline.
RealtyTrac also released data this morning, reporting foreclosure filings in 2007 were triple the number recorded in 2006, and more than eight times the number in 2005 for San Diego County.
Foreclosure filings are the public notices recorded when a home enters or moves to a new stage of foreclosure. Foreclosure typically follows a three-step pattern: notice of default, notice of trustee sale, and bank repossession or REO status.
We’ll have more on these data sets, including the Case-Shiller prices broken down by tier, later.