US Housing Prices Fall

     A wave of foreclosures and a glut¹ of unsold homes pushed U.S. housing prices down in March.

    Tuesday's report from the closely-watched Case-Shiller index of property values in 20 U.S. cities was 3.6 percent below the same month a year earlier.

    High unemployment means many people lack the income needed to buy a home, while others may be worried they may not keep their jobs and do not want to take on major new debts.

    Banks have also tightened² lending standards, meaning fewer people can qualify for mortgage loans to buy homes.

    A separate study by private research group, the Institute for Supply Management, showed business activity growing more slowly in May in the U.S. Midwest.

    The downbeat reports and high gasoline prices are among the reasons U.S. consumers grew more pessimistic in May as U.S. consumer confidence fell to a six-month low.

    Economists watch consumer confidence for clues about the consumer spending that drives most U.S. economic activity.(本文由在线英语听力室整理编辑)

1 glut   

n.存货过多，供过于求；v.狼吞虎咽

参考例句：

• The glut of coffee led to a sharp drop in prices.咖啡供过于求道致价格急剧下跌。
• There's a glut of agricultural products in Western Europe.西欧的农产品供过于求。

2 tightened   

收紧( tighten的过去式和过去分词 )； （使）变紧； （使）绷紧； 加紧

参考例句：

• The rope holding the boat suddenly tightened and broke. 系船的绳子突然绷断了。
• His index finger tightened on the trigger but then relaxed again. 他的食指扣住扳机，然后又松开了。