Friday, May 23, 2008

Home price index posts largest drop in 17 year history

By ALAN ZIBEL 05.23.08, 5:24 AM ET
WASHINGTON -
A home-price index considered to be the most comprehensive reading of the U.S. market posted the sharpest decline in its 17-year history, and analysts say housing has yet to bottom out.

Rapidly falling home prices in California, Florida and Nevada skewed the national results.

Last 13 Months Case-Shiller Composite 20 Index Graph: "Previous 13 months of the Case-Shiller Composite 20 Index.
Jim Kimmons"

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