Today, the Federal Housing Finance Agency (FHFA) released the latest results of their monthly house price index (HPI) showing that, nationally, home prices declined 0.52% since June and a notable 3.28% since July 2009.Of the nine reported Census Divisions, “Mountain” showed the weakest results declining 1.5% since June followed by the “Pacific” region with a decline of 1.1% and the “West North Central” region declining 1.0% over the same period.
The FHFA monthly HPI are formulated from home purchase information collected from mortgages that have been sold to or guaranteed by Fannie Mae and Freddie Mac.
