2 Feb 2012

US home prices now at 2003 levels

10:04 am on 2 February 2012

Home prices in the United States dropped more than expected in November, continuing a slide in an index of 20 metropolitan areas.

Prices for single-family homes declined 0.7%, instead of the 0.5% forecast by economists.

The BBC reports home prices are on average at similar levels to 2003, amid a large supply of houses with weak demand.