Case Shiller released the home price index this morning for the month of December, which is an average of October, November, and December.
The index was down 3.9% in the fourth quarter and shows the month over month declines accelerating.
11 cities reached new post bubble lows, and the index is now down 31.2% from the bubble peak.
Robert Shiller, creator of the index, sees “a substantial risk” of declines of “15 percent, 20 percent, 25 percent.”
Yikes.