Home prices declined 1.8% in November from a year earlier in the latest Federal Housing Finance Agency price index.
The seasonally adjusted index rose 1% from October, when prices fell a revised 0.7% on a monthly basis.
The FHFA calculates its index using the purchase price of mortgages sold to or guaranteed by Fannie Mae or Freddie Mac.
November prices were 18.8% below the April 2007 peak, and equated to February 2004 levels. (Click chart to expand.)
Only two regions saw prices increases in November from a year earlier. Prices rose 2.1% collectively in Arkansas, Louisiana, Oklahoma and Texas, and 0.1% in the region of North Dakota, South Dakota, Minnesota, Nebraska, Iowa, Kansas and Missouri.
The steepest year-over-year decline of 4.2% came in the Pacific region of Hawaii, Alaska, Washington, Oregon and California.
The author of this article is: Andrew Scoggin
See the original post at: http://www.housingwire.com/2012/01/25/fhfa-home-prices-fall-1-8-in-november
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Posted by: Gay Real Estate News ~ GayRealEstate.com | Thursday, January 26, 2012 at 04:13 AM