U.S. home prices fell 0.1 percent from March to April, according to the Federal Housing Finance Agency’s monthly House Price Index. The previously reported decline in March was revised to a 1.4 percent. For the last year, prices fell almost 7 percent. The index is 11.2 percent below its April 2007 peak.
“Although monthly data are volatile, we may be starting to see signs of stabilization in prices for houses funded by conventional conforming loans, as the HPI is only down 0.3 percent for the first four months of the year,” said FHFA Director James B. Lockhart.
The index is calculated using mortgage information from loans sold to or guaranteed by Fannie Mae and Freddie Mac.
Comment Notification
Subscribe to this post's comments using