Home prices plunge in January: S&P/Case Shiller

(Reuters) - "The annual declines in the composites are a good indicator of the dire state of the U.S. residential real estate market," Robert J. Shiller, chief economist at MacroMarkets LLC, said in a release.

"The 10-City and 20-City Composites are both showing negative annual returns, a striking difference from the 15.1 percent and 14.7 percent returns they reported this time last year," he said. "The dismal growth in the 10-City composite is now at rates not seen since January 1994."


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