According to S&P (http://www.standardandpoors.com/spf/docs/case-shiller/CSHomePrice_Release.pdf) data through February 2010, released today for its S&P/Case-Shiller Home Price Indices, the leading measure of U.S. home prices, show that the annual rates of decline of the 10-City and 20-City Composites improved in February compared to January 2010. For the first time since December 2006, the annual rates of change for the two Composites are positive. The 10-City Composite is up 1.4% from where it was in February 2009, and the 20-City Composite is up 0.6% versus the same time last year. However, 11 of 20 cities saw year-over-year declines.
And from http://www.calculatedriskblog.com/:
Prices in Las Vegas are off a mind-blowing 55.7% from the peak, while prices in Dallas only off 6.0% from the peak.
Although the report wa sthe first to show an increase in three years, prices still decreased (SA) in 15 of the 20 Case-Shiller cities in February.