S&P: Home prices fall a record 19.1% in year

NEW YORK -- A widely watched index shows home prices were down at the sharpest rate ever in the first quarter.

The Standard & Poor's/Case-Shiller National Home Price index released Tuesday reported home prices were down 19.1% in the first quarter compared to the first quarter last year, the most in its 21-year history.

Home prices have fallen 32.2% since peaking in the second quarter of 2006 and are at levels not seen since the end of 2002.

Related Stories

Vehicle crashes into White House gate, killing 1

• May 5, 2:53 AM

10-month-old baby has been found: Officials

• 1 hour ago

Man kills wife, 3 kids in mass shooting: Police

• Apr 23, 12:35 PM

The 20-city index fell 18.7% in March from the year before and the 10-city index lost 18.6%. But the rate of decline for both indexes slowed for the second month in a row.