NEW YORK (
) -- Home prices fell in January for the fifth consecutive month despite recent positive economic signs.
Standard & Poor's
Case-Shiller home-price index showed Tuesday that home prices fell in 16 of 19 tracked cities as the 20-City Composite in January was down 3.8% year over year.
"Despite some positive economic signs, home prices continued to drop," David Blitzer, chairman of S&P's index committee, said in a statement. "Detroit and Phoenix, two cities that have suffered massive price declines, plus Denver, saw increasing prices versus January 2011."
The 10-City composite was down 3.9% from January 2011.
-- Written by Joe Deaux in New York.
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