Home Prices Drop Most in 17 Years

A home-price index considered the most comprehensive measure of value in the U.S. housing market posted the sharpest decline in its 17-year history, and analysts said the market had yet to bottom out.

Rapidly falling home prices in California, Florida and Nevada skewed the national results.

The Office of Federal Housing Enterprise Oversight said yesterday that home prices fell 3.1 percent nationally in the first quarter compared with the corresponding period a year earlier.

Read Full Article from Washington Post

- Posted: 2008-05-23 09:02:07

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