U.S. home prices fell in December 4% from a year earlier, ending 2011 at the lowest levels since the housing crisis began in mid-2006, according to Standard & Poor's Case-Shiller Home-Price Indexes released Tuesday.
Prices are down 33.8% from their peak in the second quarter of 2006.
"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," said David Blitzer, chairman of S&P's index committee.
In fact, in 19 cities out of the 20 major US cities, Prices Fell in December.
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