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February 28, 2012

On a month to month (seasonally adjusted) basis, in December 2011 the 10-City and 20-City Composites were both down 0.5% from November. Annually, the 10-City Composite was down 3.9% and the 20-City Composite was down 4.0%.

Quarterly, for the 4th Quarter 2011 (seasonally adjusted), the Composite-10 and Composite-20 indicators were both down 0.5% over the 3rd Quarter 2011.

Annually, every city was down with the exception of Detroit (+0.5%). The largest declines were seen in Atlanta (-12.7%) and Las Vegas (-8.8%). Note: All data are seasonally adjusted.

S&P Indices Quote:
"In terms of prices, the housing market ended 2011 on a very disappointing note," says David M. Blitzer, Chairman of the Index Committee at S&P Indices. "With this month's report we saw all three composite hit new record lows. While we thought we saw some signs of stabilization in the middle of 2011, it appears that neither the economy nor consumer confidence was strong enough to move the market in a positive direction as the year ended."

Source: Standard and Poors