House Prices Up Nationally in 3rd Quarter - First Time Since 2nd Quarter of 2007
Posted by Breckenridge Associates Real Estate onHome prices came up slightly in the third quarter nationwide, something national real estate hadn't experienced since the second quarter of 2007 - according to the Federal Housing Finance Agency’s (FHFA) seasonally adjusted purchase-only house price index (HPI). The HPI is calculated using home sales price information from Fannie Mae and Freddie Mac-acquired mortgages. It was 0.2% higher on a seasonally adjusted basis in the third quarter than in the second quarter of 2009. Over the past year, seasonally adjusted prices fell 3.8% from the third quarter of 2008 to the third quarter of 2009. This type of data shows a short-term stabilization in home prices on a national level, which is likely a result of the ongoing economic efforts to stabilize markets…
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