U.S. home prices down

October 28, 2008 10:50AM

The average U.S. home price in 20 cities surveyed was down 16.6 percent in August, compared to the previous year, according to the Case-Shiller Home Price Index released today by Standard & Poor, making it the largest annual fall recorded by the index to date. All 20 cities showed an annual decline for the fifth month in a row.

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