Home prices drop a record 19 percent

Yet another devastating data point for the U.S. housing sector.

Home prices in 20 U.S. cities declined at the fastest annual pace ever in January -- plunging 18.9 percent. Prices were weighed down by foreclosures and bank efforts to unload houses, according to the S&P/Case-Shiller U.S. National Home Price survey (pdf).


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