Miami Home Sales Prices Decline 21.7 Percent

According to the Case-Shiller home price index released today by Standard & Poor's, home prices nationwide (for 20 key metro areas) are down a previously unheard of 12.7% in the 12 months ending February. That is a record for falling home prices. Miami and Las Vegas suffered the biggest losses, with Miami home prices declining 21.7% year over year.According to David M. Blitzer of Standard and