Number of foreclosures blamed for home price plunge

? A new study reveals that home prices plunged to the lowest level in our metro areas since the housing bust in 2006.Home prices fell

WOODBURY - ? A new study reveals that home prices plunged to the lowest level in our metro areas since the housing bust in 2006.

Home prices fell from February to March in 18 of 20 cities tracked by the Standard & Poor?s/Case-Shiller 20-city index. The decline is being blamed on a record number of foreclosures.

Officials say prices are also being driven down by a number of unsold homes and the reluctance of inability of many to buy a home.

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