They declined by 7.7 percent in December 2011 compared with December 2010. Excluding distressed sales, year-over-year prices declined by 9.6 percent in January compared with January 2011 and by 7.2 percent in December 2011 compared with December 2010.
The local decline was noteworthy compared with national declines, which have held for six consecutive months. The data shows that national home prices, including distressed sales, declined on a year-over-year basis by 3.1 percent in January and 1 percent when compared to December.
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