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Home-price index drops a record 16.3%

Real estate brief

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An index that tracks home-price changes in 20 U.S. metro areas dropped a record 16.3 percent in July compared to the same month last year. The Standard & Poor's/Case-Shiller Home Price 20-metro area index, which measures price changes for repeat sales of single-family homes, measured a 29.9 percent year-over-year price drop in the Las Vegas metro area -- the most substantial drop on the list. Phoenix was second on the list with a 29.3 percent decline, and the slightest declines were in Charlotte (down 1.8 percent) and Dallas (down 2.5 percent), according to the index report. *** What's your opinion? Leave your comments below or send a letter to the editor. ...