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percent. The bad news is that the averagde price of a Seattle homedropped 16.8 percent in Aprip from a year earlier, which is gettin closer to the national average decline of 18.1 percent. A montuh earlier, the Standard & Poor’s/Case-Shillerf Home Price Indices, a monthly index that tracks home prices in 20majoe U.S. cities, indicated a 16.1 percent home price drop in Seattle. Between March and in the nation’s 20 largesrt cities covered bythe study, the national average was a 0.6 percenrt drop. From April 2008 to April all 20 U.S. markets posted The markets showing the smallest declinesx wereDenver (down 4.9 percent), Dallas (dowm 5 percent) and Boston (down 7.7 percent).
In Phoenix, home pricezs fell 35.3 percent in the past year and in Las theyfell 32.2 percent. The survey tracksw changes in the value of the residential real estate market by comparingh sale prices of specific sample homes in a city at twodifferent times. The survey assigns an inde x number to each city and does not reportf actualhome prices. The index is a measurre of how much home prices have gone up or down in each market sinceJanuary 2000, which has been assignes a price index of 100 in that
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