Home Price Index Hits Record Low

The Standard & Poor’s /Case-Shiller® U.S. National Home Price Index for the third quarter of 2007 dipped 1.7% from the second quarter of the year, the largest quarter-to-quarter decline in its more than 20 years of history. The mark was down 4.5% from the same period last year, the largest year-over-year decline ever and the second consecutive record low. All 20 metropolitan areas tracked by S&P were in decline in September over August.