Standard and Poor's released their December results for the Case Shiller Housing Price Index. Here is the basic snapshot

Data through December 2009, released today by Standard & Poor’s for its S&P/Case-Shiller

1 Home Price Indices, the leading measure of U.S. home prices, show that the U.S. National Home Price Index fell in the fourth quarter of 2009 but has improved in its annual rate of return, as compared to what was reported in the third quarter.

That is year over year. What that then implies is we are seeing month over month improvements. Indeed prices rose in December in Dallas, Denver, San Diego and San Francisco.