Home prices decline in May

The economic reports released on Tuesday by the U.S. government showed that the home prices fell in May and the consumer confidence level lowered in July. The worst hit regions for lowering home prices were Miami and Las Vegas.

The home prices are lowest in almost 20 years and it again lowered in May as per the S& P indexes, the prices of 20 metropolitan cities were compared and it was found that the prices went down by 15.8 %.