NEW YORK CITY-The Standard & Poor's/Case-Shiller index that monitors 20 metropolitan markets reported that home prices plunged to new levels in January. The index showed that home prices fell 0.8% in the three-month period ending in January.
When compared with the previous year, house prices dropped 3.8% in January. Home prices dropped to new lows in nine US cities. Paul Dales, a senior economist at Capital Economics, reported that the housing market is improving. For the full story, go to Wall Street Journal .
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