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.
[IMAGE] [COLUMN_BREAK]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).