A national home-price index fell 0.7 percent in the fourth quarter and ended 2006 at 0.4 percent annual growth. This Standard & Poor's/Case-Shiller U.S. Home Price Index declined steeply throughout 2006, falling to near-zero growth after peaking at about 16 percent year-over-year growth in 2005. S&P/Case-Shiller also publishes 10-City Composite and 20-City Composite indices that measure home prices in select metro markets. The indices are designed to track the price changes of typical single-family homes and are based on data for single-family home resales for homes that have two or more recorded sale transactions at fair market value. Condominiums, co-op and new-home sales are excluded from the indices, and no appraisal data are used. The 10-City Composite Index, which includes Boston, Chicago, Denver, Las Vegas, Los Angeles, Miami, New York, San Diego, San Francisco and Washington, D.C., fell to a zero growth rate in December compared to the same month in 2005, hitting...
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