National home prices fell 8.9% in the full-year 2007, according to figures released recently by the Standard & Poor's/Case-Shiller Home Price Index.
"Wherever you look things look bleak," says Robert J. Shiller, chief economist at MacroMarkets LLC, which recently sold its rights in the indices.
Of the top 20 markets tracked by the index, 17 of the metro areas reported annual price declines and the remaining three reporting flat or moderate growth rates. Also 14 of the metro areas are reported record lows and eight are in double-digit decline.
Here's a look at these markets:
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