According to the S&P/Case-Shiller composite index of 20 metropolitan areas, home prices declined 0.2 percent in March from February. The report shows prices are at mid-2002 levels and slipped in 18 of the 20 cities tracked. Despite a slowly recovering economy, home values are under pressure from excess inventory, particularly in cities that suffered badly from high unemployment and the foreclosure crisis. The Case-Shiller index measures sales prices of homes in select cities compared with January 2000. The index offers a three-month moving average price. More here.
