FHFA Says House Prices Fell in Fourth Quarter

Washington, DC, Feb. 26, 2010--Federal Housing Finance Agency said U.S. house prices fell slightly in the fourth quarter.

Its index was calculated by using home sales price information from Fannie Mae and Freddie Mac-acquired mortgages, and was 0.1 percent lower on a seasonally adjusted basis in the fourth quarter than in the third quarter of 2009.

Over the year, seasonally adjusted prices fell 1.2 percent.

The decline in prices in the fourth quarter was much more significant when measured without seasonal adjustment. The unadjusted national decline was 1.5 percent, a much larger drop than the 0.1 percent decline measured on a seasonally adjusted basis.

The inflation-adjusted price of homes fell approximately 3.1 percent over the latest year.