Home Prices Continue To Decline in January

New York, NY, March 31, 2009--The Standard & Poor's/Case-Shiller 20-city housing index released Tuesday fell by a record 19 percent from January 2008.

It was the largest decline since the index started in 2000. The 10-city index dropped 19.4 percent, also a new record.

All 20 cities in the report showed monthly and annual price declines.

Prices in the 20-city index have declined 29 percent from their peak in summer 2006, while the 10-city index has fallen 30 percent. Prices are at levels not seen since late 2003.