Home price declines have accelerated in the last few months as more markets see price declines, First American CoreLogic reports.

On a national basis, home prices in December were down 11.1 percent from a year ago and 19.3 percent from their July 2006 peak, bringing them back to May, 2004 levels, the company said.

States seeing the most severe year-over-year price declines were California (-26.9 percent), Nevada (-26.5 percent), Arizona (-21.1 percent), Florida (-19.5 percent) and Rhode Island (-19 percent).

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