Industry NewsMarkets & Economy

20-city price index plummets 18.6%

Real estate brief
Published on Apr 28, 2009

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by CareyBot

A monthly home-price index recorded unprecedented year-over-year drops in the price of resale single-family homes in February 2009 compared to the same month a year earlier, with 15 markets showing double-digit percentage declines.

The composite index for the 20 metro areas, down 18.6 percent year-over-year in February, did not set a new record -- breaking a string of 16 record-setting months.