US big-city home prices slide

[Naveed Yaseen]

NEW YORK, Dec 30: US home prices in the nation’s top 20 cities slumped to March 2004 levels after more record declines through October, according to a Standard & Poor’s/Case-Shiller survey released on Tuesday

The survey showed a record year-over-year decline of 18 per cent in the 20 largest US metropolitan areas. In the 10 largest, the decline was 19.1 per cent.

“The bear market continues; home prices are back to their March 2004 levels,” said David Blitzer, chairman of the index committee at Standard & Poor’s.—AFP

http://www.dawn.com/2008/12/31/ebr18.htm