Looking at the monthly statistics, 15 of the 20 metro areas showed a decline in December over November, with Chicago posting the sharpest decline, down 1.6%. Las Vegas finally posted its first positive print in more than three years, with +0.2%. The Southwest continues to be a bright spot, with San Diego posting its eighth consecutive monthly increase, and Los Angeles and Phoenix both posting their seventh. Three of the markets - Charlotte, Seattle and Tampa - posted new low index levels as measured by the past four years. In other words, any gains they might have seen in recent months have been erased and December is now considered their current trough value.

More than 22 years of history for these data series is available, and can be accessed in full by going to www.homeprice.standardandpoors.com.