House Prices Fall in November

Washington, DC, Jan. 31, 2012 -- U.S. house prices fell sharply in November to mark the third straight drop, according to the S&P/Case-Shiller index.

The 20-city home price index dropped 1.3% to take the year-on-year drop to 3.7%.

The declines were broad, with only one city, Phoenix, managing a monthly gain. On a year-on-year basis, only hard-hit Detroit and Washington D.C. managed annual gains.

From the July 2006 peak, prices have dropped 32.9%.