Home Prices Lowest in 17 Years

time.com — U.S. home prices posted their sharpest first-quarter decline since the government began tracking the data 17 years ago. The Office of Federal Housing Enterprise Oversight said that home prices fell 3.1 percent in the first quarter compared with last year. The index also fell 1.7 percent from the fourth quarter of 2007 to the first quarter of 2008, the largest quarterly price drop on record.

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