S&P/Case-Shiller: Home prices down 18.7% YOY in March

The latest S&P/Case-Shiller figures just hit the tape, and they continue to show home prices heading south. The 20-city index dropped 18.7% year-over-year in March, ever-so-slightly worse than the 18.67% drop in February.

On a month-over-month basis, prices slipped 2.17%. That was ever-so-slightly better than the 2.21% monthly decline in February and the smallest monthly drop since September. Prices declined in 17 out of 20 cities on a monthly basis and in all 20 cities on a YOY basis. The worst YOY drops could be found in Phoenix (-36%), Las Vegas (-31.2%), San Francisco (-30%), and Miami (-28.7%). Denver (-5.5%) and Dallas (-5.6%) performed the best.