Home Prices, Consumer Confidence in U.S. Probably Decreased

Residential real estate prices probably dropped in January by the most in more than a year, raising the risk that home sales will keep slowing, economists said before a report today.

The S&P/Case-Shiller index of property values in 20 cities fell 3.2 percent from January 2010, the biggest 12-month decrease since November 2009, according to the median forecast of 29 economists surveyed by Bloomberg News. Another report may show consumer confidence declined in March as gasoline prices climbed.