Annual growth rates fell in 17 out of 20 cities, and home prices fell in 15 out of 20 cities, according to the latest S&P/Case-Shiller results released Tuesday.
Average home prices across the United States are back to the levels where they were in late 2003 and early 2004, according to the report.
For August, the 10-city composite for home prices fell 0.1%, while the 20-city composite showed a similar fall of 0.2%. The only cities to record improvements were Chicago, Detroit, Las Vegas, New York and Washington.
From August 2009, the 10-city composite increased 2.6%, and the 20-city composite rose 1.7% for the same period.
Though still negative, Charlotte, Cleveland and Las Vegas reported improvements in year-over-year growth at -3.4%, -0.4% and -4.5%, respectively. Growth rates in Los Angeles, San Diego and San Francisco dropped significantly from their July values to 5.4%, 6.9% and 7.8%, respectively.
David Blitzer, chairman of the Index Committee at Standard & Poor’s called the report "disappointing."