Home values fall in 20 U.S. metropolitan cities

The value of homes has declined in 20 metropolitan cities in U.S. and the reports issued on Tuesday said that consumer confidence dropped to its lowest point in the last 16 years. The consumer confidence index fell to 50.4 in June from 58.1 in May.

In Miami the price of single family home declined by 26 % and as per reports Americans feared that they may loose jobs and they may not find other jobs because less jobs will be available in the coming six months.