National home prices were down 3.7 percent from a year ago in December, a "significant improvement" over November’s 5.3 percent decline, according to a home-price index compiled by First American CoreLogic.

Markets that saw bigger declines included the metro Miami (-9.4 percent), Chicago (-8.6 percent), New York City (-8.5 percent) and Los Angeles (-3.9 percent) areas.

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