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U.S Monthly House Price Index Declining

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FEDERAL HOUSING FINANCE AGENCYNEWS RELEASE
April 21, 2011
For Immediate Release Contact: Corinne Russell (202) 414-6921, Stefanie Johnson (202) 414-6376

 

U.S. Monthly House Price Index Declined 1.6 Percent from January to February

WASHINGTON, DC – U.S. house prices  declined  1.6 percent on a seasonally adjusted basis from  January to  February, according to the Federal Housing Finance Agency’s monthly House Price Index.  The previously reported 0.3 percent decrease in January was revised to a 1.0 percent decrease.  For the 12 months ending in February, U.S. prices fell 5.7 percent.  The U.S. index is  18.6 percent below its April 2007 peak and roughly the same as the February 2004 index level.The FHFA monthly index is calculated using purchase prices of houses backing mortgages that have been sold to or guaranteed by Fannie Mae or Freddie Mac.  For the nine Census Divisions, seasonally adjusted monthly price changes from  January  to  February  ranged from  -3.7 percent in the Mountain  Division  to  -0.6 percent in the  East  South Central Division. Monthly index values and appreciation rate estimates for recent periods are provided in the table and graphs on the following pages.  Click here for complete historical data.For detailed information concerning the monthly HPI, please see the  HPI Frequently Asked Questions (FAQ).  The next release will be on May 25, 2011 and will include monthly HPI data for March 2011 and quarterly HPI data for the first quarter of 2011.

###The Federal Housing Finance Agency regulates Fannie Mae, Freddie Mac and the 12 Federal Home Loan Banks.  These government-sponsored enterprises provide more than $5.9 trillion in funding for the U.S. mortgage markets and financial institutions.

 

 

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