Home Price Index

Home Prices Fall in FHFA Index 

National home prices declined in the second quarter according to the Federal Housing Finance Agency's (FHFA's) purchase only house price index (HPI). Using home sale price data from Fannie Mae and Freddie Mac, the HPI calculated a decline of 0.6% in the second quarter with an annual decline of 5.9%.  Although the monthly HPI saw an increase of 0.9% in June, the level was 18.8% below the peak from April 2007.  With prices of other goods rising by 4.5% in the previous year, the inflation-adjusted price of homes results in a decline in value by approximately 10%. In the all-transactions home price