The September S&P/Case-Shiller Home Price Index of 20 US cities fell 17.4% year over year — that is the most on record and is now down 21.7% from its high in July ‘06. On a month over month and year over year basis, all 20 cities saw declines.

Long Island Real Estate has had similar declines since its high in the 3rd quarter of ’05:

Suffolk County:  21.05

Nassau County:  20.09

Queens County:  14.45

These percentages were calculated using the median contract price of December ’05 against November ’08