S&P/Case-Shiller Home Price Index Fell 17.1% Year-Over-Year In May

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While Standard and Poor's released a report on Tuesday showing that U.S. home prices continued to decline at a significant annual rate in the month of May, the pace of decline in prices slowed for the fourth consecutive month.

The report showed that the S&P/Case-Shiller 20-City Composite Home Price Index fell at an annual rate of 17.1 percent in May compared to the 18.1 percent decrease reported for April. Economists had expected the report to show that prices fell 17.9 percent year-over-year.

While Standard and Poor's released a report on Tuesday showing that U.S. home prices continued to decline at a significant annual rate in the month of May, the pace of decline in prices slowed for the fourth consecutive month. (Market News Provided by RTTNews)