Home prices post record 15.3% drop The S&P/Case-Shiller 20-city Home Price Index has fallen for 21 straight months.
NEW YORK (CNNMoney.com) -- U.S. home prices posted record declines in April, continuing a long losing streak for U.S. home prices. The S&P/Case-Shiller 20-city Home Price Index fell to a record low of 15.3% on a year-over-year basis, and was down 1.4% from March. The 10-city index was down 16.3% year-over-year and 1.6% for the month. The 20 city index is based on data going back 19 years, while the 10 city index is 21 years old. "There might be some regional pockets of improvement, but on an annual basis the overall numbers continue to decline," said David Blitzer, Chairman of the Index Committee at Standard & Poor's. The declines have been remarkably consistent through the past two years with prices on the 20-city index dropping for 21 straight months, since July 2006. The 10-city index has fallen every month since June 2006. What's more, recent drops have been particularly steep. The 20-city index fell 3.5% in March, 2.6% in February and 2.3% in January, and now it has gone down another 1.4%.
