Home prices drop a record 19 percent
Yet another devastating data point for the U.S. housing sector.
Home prices in 20 U.S. cities declined at the fastest annual pace ever in January — plunging 18.9 percent. Prices were weighed down by foreclosures and bank efforts to unload houses, according to the S&P/Case-Shiller U.S. National Home Price survey (pdf).
Housing slump far from over
The latest data provides more evidence that the nation’s record housing slump is far from over.
