HUD’s Office of Policy Research & Development has released its U.S. Housing Market Conditions Report for the 4th Quarter of 2011. The report is a compilation of statistical data and written reports. Tabular data indicate market conditions on the national level and are presented for each quarter. Historical data are also presented in summary tables. Overviews of economic and housing market trends are presented for 10 geographical regions, the report for each of which includes a profile on a selected housing market. Each issue includes a summary of the overall trends in national housing and a topical piece that describes a particular, noteworthy aspect of housing activity.