Home prices in USA continue to slide

Data released by Standard & Poor's has revealed that home prices in the USA continued to fall in the period to September 2008.

The latest instalment of the ratings agency’s S&P/ Case-Shiller Home Price Indices – a leading measure of US home prices – registered a record 16.6% decline in the third quarter of 2008 versus the third quarter of 2007.

The index is based on existing single family homes across the US, taking into consideration all US census divisions.