Us home prices decline, highlighting fragility of market

U.S. single-family home prices declined in September, highlighting the fragility of a market that is struggling to get back on its feet, a closely watched survey showed Tuesday.

The S&P/Case Shiller composite index of 20 metropolitan areas fell 0.6 percent from August on a seasonally adjusted basis. A Reuters poll of economists had forecast no Change.

Prices in August were also revised to show a decline of 0.3 percent after originally being reported as unchanged.

“The broader trend here is that home prices over the last few months continue to get weaker,” David Blitzer, chairman of the Index Committee at Standard & Poor’s, told CNBC.

Source: MSN.com