L.A.-O.C. home prices in biggest fall in 2 years

By one widely watched home-price benchmark, weakness in local home values is at a two-year high.

According to the October reading of the S&P/Case-Shiller Home Price Indexes, values in Los Angeles and Orange Counties were down 1.48% in the month; and down 4.91% in a year. Locally, it was the third straight monthly decline – and largest dip since February 2009. Year-over year, it was the 11th consecutive drop and biggest since October 2009.

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