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FHFA: Home Prices Decline 0.2% in October

in Market Studies, REO, Secondary Market December 22, 2011 767 Views

Home prices in the U.S. decreased 0.2 percent on a seasonally adjusted basis in October, according to the Federal Housing Finance Agency's (FHFA) ""House Price Index"":http://www.fhfa.gov/webfiles/22846/MonthlyHPIOct122211rptF.pdf released Thursday. On a yearly basis, prices declined 2.8 percent in October.

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This slight decrease brings prices to levels seen in February 2004.

Current prices are about 19.2 percent below their peak in April 2007.

FHFA also revised the previous month's index, lowering the 0.9 percent increase reported for September to a 0.4 percent increase.

FHFA calculates monthly purchase prices of homes backed by Fannie Mae and Freddie Mac mortgages.

On a regional basis, two of nine regions saw increases from October 2010 to October 2011 â€" the West South Central region (0.7 percent) and the East South Central region (0.1 percent).

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About Author: Krista Franks Brock

Krista Franks Brock is a professional writer and editor who has covered the mortgage banking and default servicing sectors since 2011. Previously, she served as managing editor of DS News and Southern Distinction, a regional lifestyle publication. Her work has appeared in a variety of print and online publications, including Consumers Digest, Dallas Style and Design, DS News and DSNews.com, MReport and theMReport.com. She holds degrees in journalism and art from the University of Georgia.
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