CSBJ Daily

Housing prices dropped during February at the fastest rate ever, according to The Standard & Poor’s/Case-Shiller home price index.

The plunge likely reflects that the housing slump is showing no signs of letting up.

The index of 20 cities fell by 12.7 percent from February 2007, the largest decline since its inception in 2001. Seventeen of the 20 metro areas reported record annual declines.

Denver, the only Colorado city on the list, posted a year-to-year decline of 5.5 percent, 6th best of the listed cities.

The index dropped 10.7 percent during January and 9.1 percent during December.

Half the cities saw home values plunge by double digits led by Las Vegas at 22.8 percent and Miami at 21.7 percent. Only Charlotte, N.C., posted a positive return of 1.5 percent year-over-year.