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Tue Jan 31, 2012, 11:40 AM

Home Prices Drop, And Consumers Turn Gloomy [View all]

By Leah Schnurr

NEW YORK | Tue Jan 31, 2012 11:16am EST

(Reuters) - Home prices fell more steeply than expected in November, and consumer confidence soured in January, highlighting the hurdles still facing the economic recovery.

The S&P/Case-Shiller composite index of single-family home prices in 20 metropolitan areas declined 0.7 percent on a seasonally adjusted basis, a survey showed on Tuesday, a bigger drop than the 0.5 percent economists expected.

The decrease added on to the 0.7 percent decline seen in October from September.

Separately, a report from The Conference Board said an index of consumer attitudes fell to 61.1 in January from a revised 64.8 the month before, as Americans turned gloomy about the job market and their income prospects.

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http://www.reuters.com/article/2012/01/31/us-usa-economy-idUSTRE7BM0AB20120131

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Reply Home Prices Drop, And Consumers Turn Gloomy [View all]
Purveyor Jan 2012 OP
mactime Jan 2012 #1
glowing Jan 2012 #2