Home Prices Fall to Lowest in 10 years

Home prices hit new post-bubble lows in March. Average home prices were down 2.6% from 12 months earlier, according to the S&P/Case-Shiller home price index of 20 major markets. Home prices have not been this low since mid-2002.

In 13 of the 20 cities, average home prices fell in March from the year before. Atlanta fared the worst, with home prices down 17.7% year over year. Home prices in Atlanta, Cleveland, Detroit and Las Vegas are all below their January 2000 levels.

Alternatively, Phoenix posted the largest gain, with prices up 6.1% from last year. Other cities showing an uptick included Dallas, Denver and Miami. Overall, the 20-city composite is down about 35% from its peak in 2006. Read more >>