WASHINGTON (AFP) - Home prices in major US cities slumped an average of 12.7 percent year-to-year in February, a survey showed Tuesday in a sign of even deeper troubles for the ailing housing market.
The Standard & Poor’s/Case-Shiller index of prices in 20 major cities showed a 14th consecutive month of declines, as the market meltdown extended.
February’s 20-city price index was down 12.7 percent from the year before, and 2.6 percent over the prior month.
The 10-city composite index, which contains more of the large “bubble markets,” was down a record 13.6 percent year-over-year and down 2.8 percent for the month.
“There is no sign of a bottom…
