Home Prices in 20 U.S. Cities Probably Dropped at a Slower Pace

Home prices in 20 U.S. cities probably fell at a slower pace and consumer confidence hovered near a two-year low, highlighting the obstacles facing the recovery in its third year, economists said before reports today.

The S&P/Case-Shiller index of property values in 20 cities dropped 3.5 percent in August from the same month in 2010 after decreasing 4.1 percent in the year ended July, according to the median forecast of 29 economists surveyed by Bloomberg News. Confidence rose to 46 this month from 45.4 in September, separate figures may show.