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Home Prices Hit Lowest Level Since Housing Crisis

iStockphoto/Thinkstock(NEW YORK) -- U.S. home prices hit their lowest levels at the end of 2011 since mid-2006, according to Standard & Poor's Case-Shiller home-price indexes.

The national composite index finds that home prices are now down 33.8 percent from their peak in the second quarter of 2006, when the housing bubble began to burst.   Atlanta, Las Vegas, Seattle and Tampa, Fla. home prices in particular have dropped to new lows.

Prices were down in 19 of the 20 cities tracked in December compared to a year ago.  The only city to post a year-over-year increase was Detroit.

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