Price index falls hardest in Phoenix, S.F.

All 25 metros tracked see decline in price per square foot

The price per square foot of homes fell in all of the 25 U.S. metro areas tracked in December compared to the same month last year, with the most extreme declines in Phoenix and San Francisco.

The metro areas included in the RPX Monthly Housing Market Report index, prepared by real estate data and analytics company Radar Logic Inc., dropped a collective 22 percent in December 2008 compared to December 2007.