Home Prices Drop in Three-Fourths of U.S. Metro Areas as Foreclosures Rise

"Real estate values are slumping as mounting foreclosures undermine prices. The share of homes sold in March that were distressed properties, meaning foreclosures or short sales, rose to 40 percent from 39 percent in February, the Realtors group said last month. There were 2.2 million homes in foreclosure in March, up 1.4 percent from a month earlier, according to Lender Processing Services Inc. in Jacksonville, Florida."