Clear Capital: home prices drop 5% in three months

This is another report from Clear Capital to follow an earlier report.

Home prices dropped only 0.2% in the three months prior to September, but a major two-month decline through October had not been seen since early 2009. While prices in October remain 7.7% above 2009, they have dropped 6.8% from the year's peak in mid-August. Clear Capital said six of the largest local markets are officially in a double-dip.

Even so, Alex Villacorta, Clear Capital's senior statistician said, prices are very dynamic at the local level.

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