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What You Should Know / June 1, 2011 -- A new report out today shows the state of the housing market has grown even more bleak. The new figures from Standard & Poor's found home prices have continued to drop for more than two consecutive quarters.Homes lost value in all but one of the 20 major markets tracked by the Case-Shiller index during the first three months of this year. Compared to a year ago, prices are down 7 percent or more in several cities. In Atlanta, Cleveland, Detroit, Las Vegas, prices are headed toward levels last seen more than a decade ago.

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