Spanish Business News

MADRID—Spanish house prices fell at their fastest pace in two years in the third quarter, as the country's three-year property bust continues to take a toll on the euro zone's fourth-largest economy.

House prices decreased on average by 7.4% in the third quarter from the same period a year ago, with prices of used homes down a whopping 9.6% in the period, the country's statistics agency INE said Thursday.

This compares with a 6.8% fall in second-quarter house prices, and marks the third consecutive quarter of accelerated price drops after prices stabilized somewhat in late 2010. The reading also represents the third-biggest quarterly fall in house prices since the sector went bust in early 2008.

Read the full article at the Wall Street Journal