Friday, August 1, 2008

Bloomberg :Home Prices Fell in 23 of 25 U.S. Metro Areas in May Worldwide

Aug. 1 (Bloomberg) -- Home prices fell in 23 of 25 U.S.
metropolitan areas in May from a year earlier as foreclosure
sales pushed down values and most areas remained mired in the
housing recession.

Sacramento had the biggest price drop, falling 31 percent
from May 2007. Las Vegas declined 29.5 percent, San Diego 27.2
percent, St. Louis 26.9 percent and Phoenix 25.8 percent, said
real estate data company Radar Logic Inc. Sales rose in 22 areas
in May from April, driven by ``motivated'' sellers including
banks, the company said.

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