Prices of single-family homes across the nation depreciated in January compared with the same month last year, the worst results in more than 13 years, a housing index released Tuesday by Standard & Poor's showed.The S&P/Case-Shiller composite index showed a drop of 0.7% from a year earlier in the price of a single-family home based on existing homes tracked over time in 10 metropolitan markets. In January 1994 the index dropped by 0.9%, compared with a year earlier, S&P said.
For its 20-city composite index, prices fell 0.2%. Those data have been collected since 2001.
On a year-over-year basis, 11 of the 20 cities in the S&P index showed negative annual returns in their prices. Among California cities tracked by the index, San Diego prices fell 4.2% while San Francisco posted a 1.4% decline. Los Angeles posted a 1% gain.
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