Summary Box: Home prices down for 3rd month

AP News
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Posted: Jan 31, 2012 4:37 PM
Summary Box: Home prices down for 3rd month

PRICES FALL: U.S. home prices fell for a third straight month in November in 19 of the 20 major cities tracked by the Standard & Poor's/Case-Shiller index. The declines suggest most homeowners aren't seeing the benefits of a slowly improving housing market.

DROPS, GAINS: The steepest monthly declines were in Atlanta, Chicago and Detroit. Phoenix was the only city to show an increase.

OTHER IMPROVEMENTS: Sales of previously occupied homes are up, homebuilders are more optimistic and home construction picked up in the final quarter of 2011. But that hasn't translated into higher prices.