The nation's housing slump appears to be getting broader and deeper and California is seeing some of the biggest declines. San Diego is one of a handful of cities where home values were down more than 10 percent in October.
The Standard and Poor's Case Shiller survey found prices are down nearly seven percent in the nation's 20 largest markets. S&P's Maureen Maitlin says there is weakness across the entire country.
Maitlin: If you look across all of the markets we follow, we're not seeing any particularly good news in any market. Markets are either in outright decline or even those that are still growing are growing at a much slower pace than they were a year ago.
Maitlin says Los Angeles prices are off nearly nine percent. San Francisco's home value decline is just over six percent. She says it is no surprise that California is experiencing some of the biggest declines because the price run-up here was so dramatic.
