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House Prices Up Nationally in 3rd Quarter - First Time Since 2nd Quarter of 2007

Posted by Breckenridge Associates Real Estate on Friday, December 4th, 2009 at 3:57pm.

Home 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 according to a recent article by RIS Media.
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