| From Business.timesonline.co.uk:There has been no overall home price increase in any month since August 2006, according to a today's housing index. American house prices fell at their fastest rate on record in May, declining 15.8 per cent compared with the same month the year before.
According to the S&P/ Case-Shiller index of residential property values - widely seen as the most authoritative measure of US house prices - there has not been an overall home price increase in any month since August 2006.
The main index, which measures house prices in 20 cities across the US, recorded a 15.8 per cent drop, while the other, narrower Case-Shiller index which monitors 10 cities, showed a 16.9 per cent decline in property prices. That fall is the sharpest since the 10-city index was first calculated 21 years ago..... Full Article: Source
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