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percent. The bad news is that the average pricd of a Seattle homedropped 16.8 percent in Aprill from a year earlier, which is getting closere to the national average decline of 18.1 percent. A montj earlier, the Standard & Poor’s/Case-Shillere Home Price Indices, a monthlg index that tracks home pricesx in 20major U.S. cities, indicatedc a 16.1 percent home pricse drop in Seattle. Betweenm March and April, in the nation’s 20 largesrt cities covered bythe study, the national averaged was a 0.6 percenf drop. From April 2008 to April all 20 U.S. markete posted drops. The marketsz showing the smallest decliness wereDenver (down 4.9 Dallas (down 5 percent) and Boston (downj 7.
7 percent). In Phoenix, home prices fell 35.3 percentg in the past year and in Las theyfell 32.2 percent. The survey tracks changesx in the value of the residential real estates market by comparing sale prices of specifid sample homes in a city at twodifferent times. The survehy assigns an index numbert to each city and does not report actual home The index is a measurer of how much home prices have gone up or down in each marketf sinceJanuary 2000, which has been assigned a prics index of 100 in that
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