Source: Reuters

Prices of U.S. single-family homes plunged a record 15.4 percent in the second quarter from a year earlier, surpassing the steep drop in the first quarter, according to the Standard & Poor’s/Case Shiller national home price index reported on Tuesday.

In June, the S&P/Case Shiller composite index of 20 metropolitan areas slipped 0.5 percent from May, bringing the measure down 15.9 percent from June 2007.

S&P said its composite index of 10 metropolitan areas slipped 0.6 percent in June versus May, for a 17.0 percent year-over-year drop.

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