Home Prices Fall in Half of U.S. Cities, Realtors Say
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Home prices fell in half of U.S. cities in the third quarter as banks stepped up repossessions of properties in default.
The median price of a single-family home dropped in 76 of 155 metropolitan areas measured, the National Association of Realtors said in a report today. Prices in Ocala, Florida, slumped 20 percent from a year earlier for the biggest decline. Palm Bay, Florida, and Tucson, Arizona, followed with a 15 percent drop. The median U.S. price fell 0.2 percent to $177,900.