US Home Prices Fell Seasonally Adjusted 0.5% In 1Q
28 May 2009 - 12:48AM
Dow Jones News
U.S. home prices dropped once again in the first quarter, but by
a smaller amount than in the previous quarter, a government agency
reported Wednesday.
U.S. home prices fell a seasonally adjusted 0.5% in the first
quarter of 2009, compared with a 3.3% decline in the fourth quarter
of 2008. Sales prices fell a seasonally adjusted 7.1% from the
first quarter of 2008 to the first quarter of 2009, the Federal
Housing Finance Agency said.
The FHFA tracks U.S. home prices through its purchase-only home
price index. The index reflects the sales prices of home purchases
financed with Fannie Mae (FNM) and Freddie Mac (FRE) mortgages.
-By Jessica Holzer, Dow Jones Newswires; 202-862-9228;
jessica.holzer@dowjones.com