The S&P Case-Shiller home price index continued to deteriorate in April as the 20-city composite index posted a record annual decline of 15.3%. The Case-Shiller index has fallen every month since peaking in July 2006.
The month-to-month decline in home prices was 1.36%, compared to the 2.17% loss in the previous month.
The 10-city composite index fell an annual 16.35%.
The 20-city composite is currently at a level of 169.85, while the 10-city composite is at 183.15.
In April, all 20 metropolitan areas posted annual declines, with seven areas posting losses exceeding 20%. Las Vegas continued to decline by 26.8%, followed by Miami and Phoenix with a drop of 26.7% and 25.9% respectively.
In the previous month, the 20-city composite had fallen by 14.33% year-over-year while the 10-city composite had fallen by 15.27% from the previous year.
By Patrick McGee and edited by Cristina Markham
©CEP News Ltd.