From The Atlanta Investor Wire:

Home prices across the country have fallen to record lows, according to the latest report of the S&P/Case-Shiller home price index – and there are few signs that the declines are slowing down.

The 10-city index fell 0.6 percent in June while the 20-city index fell 0.5 percent. The year-over-year declines in home prices were 17.0 percent for the 10-city index and 15.9 percent for the 20.

All 20 cities measured by Case-Shiller showed negative returns over the past year, though the pace of monthly declines in June slowed across the country as a whole when compared with May.

The hardest hit areas continued to be Las Vegas, Miami, and Phoenix which saw home prices fall over the past year 28.6 percent, 28.3 percent, and 27.9 percent respectively.

In contrast, Atlanta showed modest price appreciation for the second month in a row with home values increasing 0.6 percent. Still, Atlanta has now shed 8.1 percent in year-over-year value.