US Housing Market Sees Annual Decline In Prices

Posted September 27th, 2011 at 9:54 am (UTC-5)
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U.S. housing prices fell more than 4 percent during the 12-month period ending in July.

Tuesday’s report from a business research group shows declines in most of the 20 cities where it tracks prices.

Comparing July with the previous month, home prices rose slightly, but analysts say the annual figures give a clearer picture of this troubled market.

Housing is a key reason that the U.S. economy is still struggling two years after the recession officially ended.