FHFA Home Price Index Marginally Improved in July
September 22nd, 2009
Home prices bottomed out in the second quarter but prices are not rising as quickly as forecasters had assumed, an industry survey said Tuesday.
The Federal Housing Finance Agency’s House Price Index, which compiles data on single-family homes, rose by 0.3% in July, half the pace expected by analysts. The previously reported 0.5% advance in June was trimmed to just +0.1%.
Despite the revisions, the overall story hasn’t changed. July marks the third consecutive month that prices have gone up, meaning the median price bottomed out in April. Since its peak in April 2007, prices fell 11.5% over two years. Over the past 12 months, the index has slid 4.2%….(<a href="http://www.mortgagenewsdaily.com/09222009_fhfa_home_price_index.asp”>read more)
Categories: Mortgage News