RISMEDIA, October 26, 2009—U.S. home prices fell 0.3% on a seasonally-adjusted basis from July to August, according to the Federal Housing Finance Agency’s monthly House Price Index. The previously reported 0.3% increase in July was unrevised. For the 12 months ending in August, U.S. prices fell 3.6%. The U.S. index is 10.7% below its April 2007 peak.
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 July to August ranged from -1.6% in the South Atlantic Central Division to + 1.2% in the Pacific Division.
For more information, visit www.fhfa.gov.