The record 6.7 percent drop, the 10th consecutive monthly decrease in the 10-city home price index, was the largest since the early 1990s, CNN said. Florida was hit hardest by the depreciation: October home sales fell 12.4 in Miami and 11.8 percent in Tampa.

"No matter how you look at these data, it is obvious that the current state of the single-family housing market remains grim," Robert Shiller, chief economist at MacroMarkets, said in a release.

Shiller said 11 cities in the Case-Shiller 20-city home price index, had record decreases. The 20-city index fell 6.1 percent, adding strength to predictions of a long and deep slump in the U.S. housing market.

Home sale prices rose 4.3 percent in Charlotte, N.C.; 3.3 percent in Seattle, and 1.1 percent in Portland, Ore., the only three cities in the survey posting price gains.