House prices in Spain dropped by 12.8% on an annual basis in the last three months of 2012, according to a report released by the INE on Friday, but the drop was slower comparing to a 15.2% decline recorded in the Q3. Spain's new housing prices slipped by 10.9% in the Q4 following a 13.6% fall in the previous quarter, while overall house prices were down 4.4% in the Q4 from the prior quarter, when it fell 3.8%.