S&P Home Price Index Down 15% in April

Through April of 2008, the Case-Shiller Composite-20 Home Price Index is showing a 15.3% decline in single family home prices from prices a year ago. The measure from Standard & Poor's finds that 12 MSA's around the country have now shown home price declines for eight consecutive months. Las Vegas and Miami are the two weakest markets; home prices have dipped nearly 27% in each.