October shows dive in home prices

Average home prices in U.S. cities fell at the fastest rate in seven
years in October, compared to a year ago, according to Standard &
Poor’s index of 20 large metropolitan areas. The index showed a 6.1
percent decline from October 2006, and in a month-to month comparison,
a 1.4 percent dip from September 2007. The average home price in the
New York metropolitan area fell 4.1 percent from a year ago.