Housing prices continue to head down

From the WSJ:

S&P/Case-Shiller reported that its indexes ended the first quarter of 2012 at new lows. The national composite, which covers the entire country and is only released on a quarterly basis, was down 1.9% from a year earlier and fell 2% in the first quarter compared with the fourth. The composite 20-city home price index, a key gauge of U.S. home prices, was essentially flat in March from the previous month and fell 2.6% from a year earlier. Eighteen cities posted monthly declines, with just Phoenix and Miami showing increases.

Thirteen of the 20 cities posted annual declines in March, but Phoenix, Minneapolis, Denver, Miami, Detroit, Dallas and Charlotte notched gains. . . . .