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<table border="0" cellpadding="3" cellspacing="1" width="100%" class="forumline"> <tr> <th class="thCornerL" width="22%" height="26">Author</th> <th class="thCornerR">Message</th> </tr> <tr> <td width="22%" align="left" valign="top" class="row1"><span class="name"><a name=""></a><b>AP</b></span></td> <td class="row1" height="28" valign="top"><table width="100%" border="0" cellspacing="0" cellpadding="0"> <tr> <td width="100%"><img src="templates/subSilver/images/icon_minipost.gif" width="12" height="9" alt="Post" title="Post" border="0" /><span class="postdetails">Posted: Wed, Dec 26 2007, 9:14 pm EST<span class="gen"> </span> Post subject: October home prices post record decline</span></td> </tr> <tr> <td colspan="2"><hr /></td> </tr> <tr> <td colspan="2"><span class="postbody">October home prices post record decline <br /> <br />Prices fell 6.7 percent from a year ago in a 10-month slump <br /> <br />updated 5:44 p.m. ET, Wed., Dec. 26, 2007 <br /> <br />NEW YORK - U.S. home prices fell in October for the 10th consecutive month, posting their largest drop since early 1991, according to a key index released Wednesday. <br /> <br />The record 6.7 percent slide in the Standard & Poor’s/Case-Shiller home price index also marked the 23rd consecutive month that prices either fell or grew more slowly than the month prior. <br /> <br />“No matter how you look at these data, it is obvious that the current state of the single-family housing market remains grim,” said Robert Shiller, who helped create the index, in a statement. <br /> <br />The previous record decline was 6.3 percent, recorded in April 1991. The index tracks prices of existing single-family homes in 10 metropolitan areas. <br /> <br />It is considered a strong measure of home prices because it examines price changes of the same property over time, instead of calculating a median price of homes sold during the month. <br /> <br />Home prices could fall another 10 percent over the next 12 to 18 months before bottoming out, said Patrick Newport, an economist with financial consultancy Global Insight, in an interview. <br />... <br /><a href="http://www.msnbc.msn.com/id/22397888/" target="_blank">http://www.msnbc.msn.com/id/22397888/</a></span></td> </tr> </table></td> </tr> <tr> <td colspan="2" height="1" class="spaceRow"><img src="templates/subSilver/images/spacer.gif" alt="" width="1" height="1" /></td> </tr> </table>
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