According to the Standard & Poor’s/Case-Shiller index of 20 major metropolitan areas, home prices declined o.6% in September from the prior month, breaking a five month run of increases during the spring and summer. For the third quarter, prices were down 3.9% nationwide compared with a year earlier. Price drops could be even larger this winter because the “distressed” share of home sales is likely to rise as banks unload more foreclosures.
Home Prices Decline in September
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