U.S. Monthly House Price Index Estimates 0.1 Percent Price Decline From March to April

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(News Source: Federal Housing Finance Agency)

(WASHINGTON, D.C.) -- U.S. home prices fell 0.1 percent on a seasonally-adjusted basis from March to April, according to the Federal Housing Finance Agency's monthly House Price Index.   The previously reported 1.1 percent decline in March was revised to a 1.4 percent decline.   For the 12 months ending in April, U.S. prices fell 6.8 percent.   The U.S. index is 11.2 percent below its April 2007 peak.

The FHFA monthly index is calculated using purchase prices of houses backing   mortgages sold to or guaranteed by Fannie Mae or Freddie Mac. For the nine Census Divisions, seasonally-adjusted monthly price changes from March to April ranged from -0.7 percent in the West South Central Division to +1.3 percent in the Mountain Division.

"Although monthly data are volatile, we may be starting to see signs of stabilization in prices for houses funded by conventional conforming loans, as the HPI is only down 0.3 percent for the first four months of the year," said FHFA Director James B. Lockhart.

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