facebook
twitter
search
search

Home prices off 2.5 percent in quarter

May 25, 2011 at 12:14 PM

WASHINGTON, May 25 (UPI) -- A federal agency said Thursday U.S. home prices fell 2.5 percent in the first quarter, the largest quarterly drop since the fourth quarter of 2008.

The Federal Housing Finance Agency, which tracks prices for homes with mortgages backed by either the Federal National Mortgage Association or the Federal Home Loan Mortgage Corp., also said prices fell 5.5 percent from the first quarter of 2010 to the same three months of 2011.

For the quarter, prices fell in 43 states and the District of Columbia. Among the nine Census Divisions, prices fell farthest, down 4.3 percent, in the Mountain Division. Prices held up best in the West South Central Division, where the House Price Index declined 0.5 percent.

The report said the U.S. House Price Index fell 0.3 percent from February to March.

Like Us on Facebook for more stories from UPI.com  
Related UPI Stories
Latest Headlines
Top Stories
Compact cannon for British armored vehicles
Kraft-Heinz merger forms world's fifth-largest food-beverage company
Aetna to acquire Humana for $37 billion in cash, stocks
New Zealand military receives medium heavy military trucks
BBC to lay off 1,000 people to make up for $234M in lost revenue