Home prices at new lows for downturn

S and P, Case-Shiller shows prices off 35.1 percent from peak

A national home-price index that captures about 75 percent of U.S. properties in all nine Census divisions showed home prices falling 2 percent during the first quarter to a new post-crisis low.

The S&P/Case-Shiller National Composite is down 35.1 percent from its second-quarter 2006 peak, Standard & Poor’s reported today. Two other S&P Case-Shiller indexes, the 10- and 20-city composites, are also at new lows for the housing downturn, although both were little changed from February to March.