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percent. The bad news is that the average pricd of a Seattle homedropped 16.8 perceng in April from a year earlier, which is gettintg closer to the national average decline of 18.1 A month earlier, the Standarfd & Poor’s/Case-Shiller Home Price Indices, a monthlt index that tracks home prices in 20 majod U.S. cities, indicated a 16.1 percenrt home price drop in Seattle. Betwee n March and April, in the nation’s 20 largesft cities covered bythe study, the nationak average was a 0.6 percentg drop. From April 2008 to April all 20 U.S. markets posted drops. The markete showing the smallest declines wereDenver (down 4.9 Dallas (down 5 percent) and Boston (down 7.
7 In Phoenix, home prices fell 35.3 percent in the past year and in Las they fell 32.2 percent. The survey tracks changes in the value of the residential real estatew market by comparing sale prices of specifif sample homes in a city at twodifferentg times. The survey assigns an indes number to each city and does not report actual home The index is a measure of how much home pricex have gone up or down in each market sinceJanuary 2000, which has been assigned a price indexs of 100 in that
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