11:53am

Tue May 31, 2011
Business

Single-Family Home Prices Hit 5-Year Low

Prices for single-family homes have fallen to their lowest level since the housing bubble burst in 2006. The latest S&P/Case-Shiller index for March shows prices dropping in 18 out of 20 major metro areas. The nationwide index fell for the eighth straight month. A glut of foreclosures is a major reason home values continue to deteriorate.

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