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Home Prices Drop for 6th Straight Month

Home Sales Sign Real Estate 04 FBN

 (Reuters)

U.S. single-family home prices fell for the sixth month in a row in December, in line with expectations, a closely watched survey said Tuesday.

The S&P/Case Shiller composite index of 20 metropolitan areas declined 0.4% in December from November on a seasonally adjusted basis. The figure was in line with analysts' expectations.

During the fourth quarter, home prices declined 3.9% from the previous quarter and were down 4.1% compared to the fourth quarter 2009.