Home Prices, 2010 | featured news

U.S. single-family home prices fell for a fourth straight month in October pressured by a supply glut, home foreclosures and high unemployment, data from a closely watched survey showed on Tuesday.

The Standard & Poor's/Case-Shiller index shows a modest 1% gain over May figures, with prices in Los Angeles, San Diego and San Francisco increasing.

Consumer confidence sank in July to its lowest since February on job market worries, underscoring the slow path to economic recovery, and home prices rose in May but without signs of a sustained rebound, reports released on Tuesday showed.

While the Case-Shiller index showed prices were slightly higher than in December, the rebound seems to be fading. The Standard & Poor’s Case-Shiller Index rose 0.3 percent in January from December, seasonally adjusted, its eighth consecutive monthly increase.