Home prices slip in March

The latest monthly house price index shows that prices fell a quarter of a percent since February, which puts them about 6 percent lower than a year ago

This chart shows the Federal Housing Finance Agency's (FHFA) monthly house price index from 2001 through last month. Home prices have been falling for about four years.

Today, the Federal Housing Finance Agency (FHFA) released the latest results of their monthly house price index (HPI) showing that, nationally, home prices declined 0.26% since February dropping 5.85% below the level seen in March 2010.

Clearly, we are well into the second leg double-dip of this housing collapse as home sales and homebuying sentiment continue to deteriorate with prices closely following behind.

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.

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