In the first year on year decline since 1991, the S&P/Case-Shiller index shows House prices in the U.S. has fallen by 1.4%.
The S&P/Case-Shiller index is considered to be a better gauge of the housing market movements as it tracks sales on the same properties. Medium house price data can be effected by different classes of property sold at a given time.
» U.S. home prices fall for first time since 1991 – Market Watch, 29th May 2007