Home Prices in U.S. Probably Dropped, Consumer Confidence Rose

Residential real estate prices probably dropped in February by the most in more than a year, a sign the housing market is struggling to stabilize, economists said before a report today.

The S&P/Case-Shiller index of home values in 20 cities fell 3.3 percent from February 2010, the biggest 12-month decrease since November 2009, according to the median forecast of 25 economists surveyed by Bloomberg News. Another report may show consumer confidence increased in April as job gains helped cushion the effects of rising gasoline costs.