US Home prices fall by record 19.1 percent in 1Q

Home prices fell at the fastest annual rate ever in the first quarter, but the pace of month-to-month declines continues to slow, a closely watched housing index showed Tuesday. The Standard & Poor's/Case-Shiller National Home Price index reported home prices tumbled by 19.1 percent in the first quarter, the most in its 21-year history. Home prices have fallen 32.2 percent since peaking in the second quarter of 2006 and are at levels not seen since the end of 2002.

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