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Homes Backing GSE Mortgages Post 1% Price Gain in November

Data released this week by the ""Federal Housing Finance Agency"":http://www.fhfa.gov (FHFA) show purchase prices of homes backing mortgages that have been sold to or guaranteed by ""Fannie Mae"":http://www.fanniemae.com and ""Freddie Mac"":http://www.freddiemac.com rose 1.0 percent between October and November.

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The agency's index has recorded sporadic ups and downs throughout the year. For the 12 months ending in November, the net effect is a decline in property values of 1.8 percent.

FHFA's index now stands 18.8 percent below its peak in April 2007. The agency says prices are now roughly the same as in February 2004.

FHFA's study notes that the previously reported 0.2 percent decrease in October was revised downward to reflect a 0.7 percent decrease.

For the nine census divisions, seasonally adjusted monthly price changes from October to November ranged from -0.2 percent in the Middle Atlantic division (New York, New Jersey, and Pennsylvania) to +2.1 percent in the West South Central division (Oklahoma, Arkansas, Texas, and Louisiana).

About Author: Carrie Bay

Carrie Bay is a freelance writer for DS News and its sister publication MReport. She served as online editor for DSNews.com from 2008 through 2011. Prior to joining DS News and the Five Star organization, she managed public relations, marketing, and media relations initiatives for several B2B companies in the financial services, technology, and telecommunications industries. She also wrote for retail and nonprofit organizations upon graduating from Texas A&M University with degrees in journalism and English.
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