Home Price Index Falls in January

New York, NY, March 27, 2007—According to the Standard & Poor's/Case-Shiller Home Price Index of ten metropolitan areas, the prices of existing single-family houses extended their slide in most regions in January.

The composite month-over-month index declined 0.6 percent to 220.90, or a 0.7 percent year-over-year loss, S&P said on its Web site.

The composite month-over-month index of 20 metropolitan areas showed a 0.6 percent drop in January, to a 202.03 reading, or a 0.2 percent percent year-over-year.