U.S. home prices fell a record 19.1% in the first quarter compared with a year earlier, according to the national Case-Shiller home price index released Tuesday. On a month-to-month basis, prices in 20 selected cities fell 2.2% in March and were down 18.7% in the past year. Seventeen of 20 cities saw prices fall in March, with record declines in Minneapolis, Detroit and New York. "We see no evidence that that a recovery in home prices has begun," said David Blitzer, chairman of the index committee for Standard & Poor's, which compiles the Case-Shiller index. From the peak, home prices are down 32.2%, and on average are at the same level they were at in late 2002.

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