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Tuesday, April 29, 2008
Home Prices Fall 12.7% in February
Associated Press
NEW YORK--
A closely watched index shows that U.S. home prices fell by 12.7% in February versus last year, with 17 of the 20 metro areas reporting record annual declines.
The Standard & Poor's/Case-Shiller home price index of 20 cities also showed Tuesday that home values in 10 cities plunged by double digits led by Las Vegas and Miami. Only Charlotte, N.C., posted a positive return year-over-year.
All 20 metro areas have declined for six straight months.
The narrower 10-city index set a record monthly decline of 13.6%.
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