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Case-Shiller recently released the following December home price numbers.

WASHINGTON (MarketWatch) -- Home prices in 20 major U.S. cities fell a not-seasonally adjusted 0.2% in December compared with November, according to the Case-Shiller home price index released Tuesday by Standard & Poor's. Prices were down 3.1% in the past year. A quarterly index covering the entire nation showed home prices fell 1.1% in the fourth quarter compared with the third. National home prices were down 2.5% in the past year.

Home price declines are rarely good news. These numbers were expected and given the time of year not a big surprise. The numbers for the first 2 quarters of this year will give us a better indication of where markets are headed.