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U.S. home prices at lows following December drop

U.S. home prices at lows following December drop (by Steve Goldstein)

WASHINGTON (MarketWatch) -- U.S. home prices fell 1.1% in December to bring the year-over-year fall to 4%, according to the Case-Shiller home price index released Tuesday. The 20-city composite is at its lowest level since the housing crisis began in mid-2006. Prices in hard-hit Detroit declined 3.8% in December, and only Phoenix and Miami saw price gains.