The Real Deal Miami

Home prices fall at record pace

September 30, 2008 01:54PM

Home prices in 20 U.S. cities fell a record 16.3 percent in July from a
year
earlier, according to the S&P/Case-Shiller
home-price index released today. Economists had predicted a smaller
drop, following the June 15.9 percent descent. Home prices have been
declining every month since January 2007.