The December Standard & Poors / Case-Shiller Index reports USA home values in the fourth quarter the USA were down 3.7% in 2011, bringing them to a level last seen in early 2003.
Values had edged upward in the summer months, but just like in 2010, the welcome gains were lost in a weak fourth quarter.
In Seattle, the mid-summer rally was erased with a 3.4% drop in the fourth quarter, bringing the year to an overall decline of 5.6% for the year, reaching a level last seen in mid-2004.
The number of home sales in Seattle was 1.4% lower in 2011 from 2010. The average sales price was $440,491.
For more information, visit the S&P website.