Federal home price index down in October

WASHINGTON, Dec. 22 (UPI) -- U.S. home prices fell 0.2 percent in October compared with September, the Federal Housing Finance Agency said Thursday.

Home prices are down 2.8 percent from October 2010 and down 19.2 percent from the peak of April 2007, the agency said.

Of the nine districts tracked, prices in New England fell the farthest in October over September, falling 1 percent, while prices in the East South Central division rose the highest, climbing 2 percent, the agency said.

The agency's House Price Index tracks prices for homes with mortgages backed by either the Federal National Mortgage Association or the Federal Home Loan Mortgage Corp.