“Data through December 2010, released today by Standard & Poor’s for its S&P/Case-Shiller. Home Price Indices, the leading measure of U.S. home prices, show that the U.S.National Home Price Index declined by 3.9% during the fourth quarter of 2010.  The National Index is down 4.1% versus the fourth quarter of 2009, which  is the lowest annual growth rate since the third quarter of 2009, when prices were fa
lling at an 8.6% annual rate. As of December 2010, 18 of the 20 MSAs covered by S&P/Case-Shiller Home Price  Indices and both monthly composites were down compared to December 2009. Both Los Angeles and  San Francisco reported negative annual rates of return in December, leaving San Diego and Washington DC as the only two cities where home prices are increasing on a year-over-year basis, +1.7% and +4.1%, respectively.”
“We ended 2010 with a weak report. The National Index is down 4.1% from the fourth quarter of 2009 and 18 of 20 cities are down over the last 12 months.  Both monthly Composites and the National Index are moving closer to their 2009 troughs.  The National Index is within a percentage point of the low it set in the first quarter of 2009. Despite improvements in the overall economy, housing continues to driftlower and weaker.” says David M. Blitzer, Chairman of the Index Committee at Standard & Poor’s