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Case-Shiller shows signs of weakness

10 of 20 metro areas tracked saw year-over-year price declines

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Home prices fell in the first quarter compared to the fourth quarter, but were up 2 percent from the market's trough in the first quarter of 2009, according to the latest Standard & Poor's/Case-Shiller National Home Price Indices report released today.The indices are based on repeat sales of single-family homes over time in all nine U.S. census divisions. Prices fell a non-seasonally adjusted 3.2 percent in the first quarter from the fourth quarter to a U.S. National Index of 131.81. The index is based on a value of 100 from January 2000. The current index indicates a 31.8 percent appreciation rate since then for a typical home. National home prices are similar to what they were in spring 2003, the report said. Half of the 20 metro areas covered saw year-over-year price declines in March; the rest saw price increases. The 20-city composite index rose 2.3 percent. Of those to see increases, two posted double-digit rises: San Francisco at 16.2 percent and San Diego at 10.8 percen...