Home price drop sets record in fourth quarter: S&P

Prices of existing U.S. single-family homes slumped 8.9 percent in the fourth quarter versus a year earlier, the largest decline in the 20-year history of a national home price index released on Tuesday.

The S&P/Case-Shiller composite index of 10 metropolitan areas fell 2.3 percent in December versus November, to 200.55, and fell 9.8 percent year-over-year, S&P said in a statement.

The composite index for 20 metropolitan areas fell 2.1 percent to 184.86 in December from November, and fell 9.1 percent year-over-year.

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- Posted: 2008-02-26 09:38:00

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