Summary Box: Foreclosures push home prices down

AP News
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Posted: Oct 26, 2010 5:24 PM
Summary Box: Foreclosures push home prices down

HOME PRICES FALL: Home prices are falling further, suggesting a bottom hasn't been reached in many metro areas. The Standard & Poor's/Case-Shiller 20-city home price index fell 0.2 percent in August from July.

MOST CITIES DROP: Fifteen of the cities showed monthly price declines, and prices are expected to drop further in the coming months.

FORECLOSURES COMING: Prices are likely to drop because millions of foreclosures are expected to pour onto the market in the coming years. That's likely to hurt even cities that had begun to rebound earlier in the year.