Home prices in America extend record slide in April

US home prices extended their record slide in April, with every top metropolitan area now posting annual losses and many showing...

US home prices extended their record slide in April, with every top metropolitan area now posting annual losses and many showing double-digit declines, according to the Standard & Poor’s / Case Shiller home price index report on Tuesday.

The S&P/Case Shiller composite index of 20 metro areas fell 1.4 percent in April from March and slumped by a record 15.3 percent over the year. Economists expected prices for the 20-city index to fall 2.0 percent in the month and 15.9 percent from April 2007, according to the median forecast in a Reuters survey.

S&P said its composite index of 10 metro areas slid 1.6 percent in April for a record 16.3 percent annual drop.

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Home prices in a dozen of the metro areas have fallen for eight straight months.

“If there is anywhere to look for possible improvement, it would be that the pace of monthly declines has slowed down for most of the markets,” David Blitzer, chairman of the Index Committee at S&P, said in a statement.

S&P said its composite index of 10 metro areas slid 1.6 percent in April for a record 16.3 percent annual drop. Home prices in a dozen of the metro areas have fallen for eight straight months.

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