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Home prices fell at record pace in May: S&P (Reuters)

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Sanket
on July 29, 2008 5:35 PM | | Comments (0) | TrackBacks (0)
metropolitan areas fell 0.9 percent in May from April, bringing the measure down 15.8 percent from May 2007.

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Economists surveyed by Thomson Reuters expected the monthly and annual drops would be 1 percent and 16 percent, respectively. S&P said the composite index of 10 metropolitan areas declined 1 percent in May, for a 16.9 percent year-over-year drop.

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