The latest Case-Shiller report is out. Not really any great news.

Here is a summary from the WSJ Real Time Economics blog:

In the 20-city index, no area experienced year-over-year price gains, the ninth straight month that has happened. Further, none of the cities managed to avoid month-to-month declines for the third month in a row.

Phoenix and Las Vegas continued to lead decliners, with monthly drops around 5% and year-to-year falls over 30%. Denver, Dallas, Cleveland and Boston faired the best in terms of annual declines down 4.0%, 4.3%, 6.1% and 7.0%, respectively.

As of December, 18 of the 20 metro areas are in double digit declines from their peaks, with half posting declines of greater than 20% and four of those (Las Vegas, Miami, Phoenix and San Francisco) in excess of 40%.

“The deterioration in U.S. home prices continues apace, with the rate of decline picking up steam late last year,” said Mike Larson, real estate and interest analyst at Weiss Research. “Rising foreclosure activity is putting pressure on prices, as lenders are increasingly pursuing a ‘take what we can get’ selling strategy.”

And here is the 10 city detail:

(About the numbers: The Case Shiller indices have a base value of 100 in January 2000. So a current index value of 150 translates to a 50% appreciation rate since January 2000 for a typical home located within the metro market.)