By Michelle E. Shaw

The Atlanta Journal-Constitution

The stabilizing housing market many experts saw a year ago seems to have been built on sand.

New data released Tuesday showed another monthly decline in home prices, with values in metro Atlanta and 10 other markets falling to new lows since the housing bubble burst in 2006 and 2007.

Metro Atlanta values were down 8 percent in December from the same month in2009, according to the Standard & Poor’s Case-Shiller Index. The decline continues a trend that began in the summer, following a mild recovery spurred by homebuyer tax credits.

The metro region is now 26.7 percent below its July 2007 index peak...