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Tuesday, February 27, 2007

US ECON: Case Shiller Price Index Falls 0.8% in Dec

* Follows 0.4% drop in November
* Accelerates from 0.3% average decline in last three months

The S&P/Case Shiller home price index fell a further 0.8% between November and December. This is simply further evidence of price declines following weak sales and high inventory. From a year ago, the index was up 0.4%.

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