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by CareyBot

A monthly price index for 20 U.S. metro areas dropped 15.9 percent year-over-year in June, with the sharpest declines in the Las Vegas, Miami and Phoenix areas.A separate quarterly index covering a broader set of U.S. markets fell 15.4 percent in the second quarter compared to the same quarter last year, but rose 0.6 percent compared to first-quarter 2008. The Standard & Poor's/Case-Shiller Composite-20 index, which measures price changes for repeat sales of the same homes over time in 20 metro areas, recorded a 28.6 percent drop in Las Vegas in June compared to the same month last year, and all 20 metro areas tracked in the monthly index had year-over-year index declines. Miami had the second-highest price decline at 28.3 percent, followed by Phoenix, down 27.9 percent. At the nation...