Slump in Housing Prices Deepens
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The U.S. housing market is showing signs of falling deeper into a slump that could weigh on the nation's economic recovery. Home prices nationwide were down 1.5% in the third quarter, compared with a year ago, according to the S&P/Case-Shiller home-price index released Tuesday. The drop reflects the sharp fall in home sales after government home-buying tax credits expired earlier this year. Prices fell even more, by 2%, in the third quarter, compared with the second quarter.