U.S. home prices continued to fall at a record-breaking pace in the third quarter, with the Los Angeles area posting among the sharpest declines, according to a prominent index released today. The Standard & Poor’s/Case-Shiller index of home prices was down 16.6% in the three months ending in September from the same period a year ago. Home prices in the Los Angeles area, which includes Orange County, were down 27.6% compared with the third quarter of 2007. For the full story visit here
