Industry NewsMarkets & Economy

Home prices falling more slowly in most markets

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Home prices were down from a year ago in 18 of 20 markets tracked through September by the Standard & Poor's/Case-Shiller 20-City Composite index, although the annual rate of change improved in most of those markets.Detroit and Washington, D.C., were the only markets posting annual growth, with prices in Detroit up 3.7 percent from a year ago. Meanwhile, Atlanta, Las Vegas and Phoenix hit new lows.The "plunging collapse" of prices in 2007-09 "seems to be behind us," said David Blitzer, chairman of the Index Committee at S&P Indices, in a statement.But, he added, it's "a bit disturbing that we saw three cities post new crisis lows. For the prior three or four months, only Las Vegas was weakening each month. Now Atlanta and Phoenix have fallen to new lows, too."Atlanta posted a record drop of 5.9 percent from August to September, leaving prices down 9.8 percent from a year ago. Prices were down 1.4 percent from August in Las Vegas, and 7.3 percent ...