U.S. Home Prices Fell by Record in Second Quarter – Bloomberg

Home prices in the U.S. fell by a record in the second quarter as sales dropped and mortgage lenders made it tougher to get a loan.

Home prices down 3.2% nationally in past year – Marketwatch

U.S. home prices fell 3.2% in the second quarter compared with a year earlier, Standard & Poor’s reported Tuesday. It’s the largest decline ever in the 20-year history of the Case-Shiller home price index. Meanwhile, prices fell 3.5% in the past year in 20 major cities and 4.1% in 10 major cities. Prices fell in 15 of the 20 cities, with prices down 11% in Detroit.

House prices suffer worst fall since 1987 – Reuters (Yahoo)

House prices suffered their worst decline since at least 1987 in the second quarter from a year earlier as the housing downturn has deepened, according to the S&P/Case-Shiller U.S. National Home Price Index.

The national index, which dates from 1987, fell 3.2 percent to 183.89 last quarter from 189.93 in the same period in 2006, S&P said in a statement.

“The pullback in the U.S. residential real estate market is showing no signs of slowing down,” Robert Shiller, chief economist at MacroMarkets LLC, said in the statement.

Home Prices: Steepest Drop in 20 Years – AP (Yahoo)

The decline in home prices around the nation shows no evidence of a market recovery anytime soon, one of the architects of the index said.

MacroMarkets LLC Chief Economist Robert Shiller said the declining residential real estate market “shows no signs of slowing down.”

The report came a day after the National Association of Realtors said sales of existing homes dropped for a fifth straight month in July while the number of unsold homes shot up to a record level.