CORRECTED – U.S. home prices fell in August, near lows-S&P

(Corrects second paragraph to show July was a decline, not a
gain and corrects comparison to August forecast)

NEW YORK, Oct 26 (BestGrowthStock) – Prices of U.S. single-family
homes fell in August, hovering around recent lows after the
expiration of popular homebuyer tax credits, according a
Standard & Poor’s/Case-Shiller home price report on Tuesday.

The S&P/Case Shiller composite index of 20 metropolitan
areas declined 0.3 percent in August from July on a seasonally
adjusted basis. A Reuters poll of economists forecast a drop of
0.2 percent. The dip followed a seasonally adjusted decline of
0.2 percent in July.

S&P, which publishes the indexes, also said home prices in
the 20 cities index rose 1.7 percent from August 2009, a slower
annual pace than the 3.2 percent increase in July.

“A disappointing report. Home prices broadly declined in
August. Seventeen of the 20 cities and both composites saw a
weakening in year-over-year figures, as compared to July,
indicating that the housing market continues to bounce along
the recent lows,” David M. Blitzer, chairman of the index
committee at Standard & Poor’s, said in a statement.

(Reporting by Julie Haviv; Editing by Padraic Cassidy)

CORRECTED – U.S. home prices fell in August, near lows-S&P