The chart above depicts the annual returns of the 10-City and the 20-City Composite Home Price Indices.
In January 2011, the 10-City and 20-City Composites recorded annual returns of -2.0% and -3.1%,
respectively. On a monthly basis, the 10-City Composite was down 0.9% and the 20-City Composite fell
1.0% in January versus December 2010. Only San Diego and Washington D.C. posted positive annual
growth rates in January 2011. These are the only two cities whose annual rates remained positive
throughout 2010. Every other MSA has either moved back into or has always been in negative territory