Real Estate Trends: Case-Shiller Index for September

A few days ago I wrote about some projections on when the economy will start to recover, and explicitly that housing is not expected to recover until 2011.  Well today I came across a graph of some of the cities represented in the Case-Shiller index (Seattle is one of them).  I found this graph really interesting so I decided to post it here. I think the most ominous part about this graph is that it doesn't reflect the big losses seen throughout October....housing prices are likely to keep declining.

Click the image below to enlarge.