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| 04-29-08 |
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| Home prices sink at record clip; foreclosures keep mounting |
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| NEW YORK (AP) -- In a bad omen for sellers and lenders this spring home selling season, the erosion of house values is accelerating and foreclosure filings are doubling, new data showed Tuesday. |
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| A closely watched index of home prices in 20 cities fell almost 13 percent in February from a year earlier, a record for the seven-year-old S&P's/Case-Shiller Home Price index. The report follows news that foreclosure filings between January and March also hit a new high, and comes a day after the government said the number of vacant homes on the market also hit a record.
Read more at: http://biz.yahoo.com/ap/080429/home_prices.html |
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