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Home prices continue to drop, Americans losing faith in economic improvement

WASHINGTON (AP) – It turns out that home prices haven’t finished falling. Prices in major areas have now reached their lowest level since the housing bubble burst in 2006.

They’ve been driven down even further by foreclosures and a glut of unsold homes. Home prices fell between February and March in 18 of the 20 metro areas tracked by the S&P/Case-Shiller index.

A monthly survey finds Americans losing faith that the economy will keep improving. The Conference Board’s Consumer Confidence Index fell to 60.8 from a revised 66 in April.

It’s a sign of the toll that high gas prices, a choppy job outlook and a moribund housing market are taking on people’s outlooks.

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