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Index shows slight drop in home prices
27.02.2010
A government index shows home prices fell slightly in the fourth quarter of last year from the previous quarter, but remained stable.
WASHINGTON – Feb. 26, 2010 – A government index shows home prices fell
slightly in the fourth quarter of last year from the previous quarter,
but remained stable.
The Federal Housing Finance Agency said Thursday that prices, adjusted
for seasonal factors, inched downward 0.1 percent in the
October-December quarter. The index was 1.2 percent below last year’s
levels.
The government index is based on loans owned or guaranteed by mortgage finance companies Fannie Mae and Freddie Mac.
It declined less than other housing market measurements during the
housing bust because it excludes the most expensive homes and some of
the riskier mortgages that fell into foreclosure.
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