Economics
U.S. Home Prices Probably Slumped on Distressed Properties
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U.S. home prices probably slumped in March by the most in 16 months, indicating residential real estate will keep weighing on the expansion, economists said before a report today.
Property values in 20 cities dropped 3.4 percent from March 2010, the biggest year-over-year decline since November 2009, according to the median forecast of 25 economists surveyed by Bloomberg News ahead of a report from S&P/Case-Shiller. Other reports may show manufacturing slowed in May and consumer confidence rose as fuel costs eased.