US home prices fall for eighth month in February

City A.M. Reporter
US single-family home prices fell for an eighth straight month in February, showing an industry that is still struggling to recover, a closely watched survey has shown.

The S&P/Case Shiller composite index of 20 metropolitan areas declined 0.2 per cent in February from January on a seasonally adjusted basis.

The figure was slightly better than economists' median forecast for a drop of 0.3 per cent. The composite still held above its 2009 lows, however.

Prices in the 20 cities have fallen 3.3 per cent year over year, in line with expectations.