Housing-price index records steepest drop in its 21-year history

05/27/2009 | Bloomberg Businessweek

During the first three months of this year, U.S. home prices declined by 19.1%, according to the Standard & Poor's/Case-Shiller National Home Price Index. That is the steepest drop since the index was started 21 years ago. Since peaking in the second quarter of 2006, home prices are down 32.2%.

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