Home prices at lowest levels since housing bust

Image by Getty Images via @daylifeHome prices are falling across most of America’s largest cities, and average prices in eight major markets have hit their lowest point since the housing bust.

The Standard & Poor's/Case-Shiller 20-city home price index fell 1.6 percent in November from October. All but one city, San Diego, recorded monthly price declines.

“Everything in this report is still sliding — it’s still pointing downward,” David M. Blitzer, Chairman of the Index Committee at Standard & Poor’s, told CNBC Tuesday. “We still seem to be, at best, scraping along the bottom.” Read more...