The S&P/Case-Shiller National Home Price Index, based on repeat-sales of the same properties over time, registered a record 18.2 percent decline in the fourth quarter of 2008 on a year-over-year basis. The seasonally adjusted annual rate of decline (quarter-to-quarter) came to 23.6 percent for the fourth quarter, the largest on record, and the U.S. National Values index now stands 26.5 percent below the peak in the first quarter of 2006.

The seasonally adjusted annual rate of decline (quarter-to-quarter) came to 13 percent, the sharpest decline on record, and the FHFA?EUR??,,????'???s National Index now stands 11 percent below the peak registered in the second quarter of 2007.

The median price of existing homes sold in January (based on closings) was down by a near-record 14.8 percent on a year-over-year basis ?EUR??,,????'??+ comprising a 13.8 percent drop in single-family home prices and a 20.6 percent decline for condos/co-ops.