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WASHINGTON, DC – June 23,
2009 -- U.S. home prices
fell 0.1 percent on a seasonally-adjusted basis from March to April, according
to the Federal Housing Finance Agency’s monthly House Price Index. The
previously reported 1.1 percent decline in March was revised to a 1.4 percent
decline. For the 12 months ending in April, U.S. prices fell
6.8 percent. The U.S. index is 11.2 percent below its
April 2007 peak. The FHFA monthly index is calculated using purchase prices of
houses backing mortgages sold to or guaranteed by Fannie Mae or Freddie Mac. For
the nine Census Divisions, seasonally-adjusted monthly price changes from March
to April ranged from -0.7 percent in the West South Central Division to +1.3
percent in the Mountain Division.
“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.