Home-price index falls at record rate

S&P/Case-Shiller reports 16.6% drop in Q3

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The Standard & Poor’s/Case-Shiller National Home Price Index dropped a record 16.6 percent in the third quarter compared to the same quarter last year.

And a separate monthly price index for 20 U.S. metro areas also fell a record 17.4 percent year-over-year in September.