Home prices drop into double-dip territory
S&P/Case-Shiller 20-city index fell 0.2 percent in March from February
msnbc.com news services
May 31, 2011
NEW YORK — U.S. single-family home prices dropped into double-dip territory in March as the housing market remained bogged down by inventory and weak demand, a closely watched survey said on Tuesday.
The S&P/Case Shiller composite index of 20 metropolitan areas declined 0.2 percent in March from February on a seasonally adjusted basis, in line with economists' expectations.
The price index was below the low seen in April 2009 during the financial crisis. The glut of houses for sale, foreclosures, tight credit and weak demand have kept the housing market on the ropes even as other areas of the economy start to recover.
Full story: http://www.msnbc.msn.com/id/43222187/
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