Case Shiller composite index

The Standard & Poor's/Case Shiller composite 10-city index of single-family home prices advanced in November by 1.3 percent for its slowest rate in more than 10 years, while growth of 1.7 percent in its 20-city composite index was the smallest increase since it was introduced in 2001. "Countrywide, home price declines appear to show no signs of slowing down," commented MacroMarkets chief economist Robert Shiller. The latest housing index comes at a time when some data is starting to suggest that the worst of the market slump may be over. The Federal Reserve, which remains concerned about the impact of the residential property market downturn on the overall economy and wants to guard against a recession, is expected to leave its benchmark interest rate at 5.25 percent as policymakers meet this week.