U.S. home-price index falls 14.1%

Data based on repeat sales of single-family homes

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A U.S. home-price index, based on repeat sales of single-family homes over time, fell 14.1 percent in the first quarter compared to the same quarter last year — a record in its 20-year history.

The Standard & Poor’s/Case-Shiller national index, which tracks more than 100 metro areas and covers about 70 percent of the country, declined 6.7 percent in the first quarter compared to fourth-quarter 2007.