Another day, another bad piece of housing data. This morning’s downer comes from the Federal Housing Finance Agency, which reported its home-price index fell in the first quarter at the fastest pace since the fourth quarter of 2008 — not exactly a time to which one likes to see economic data get compared.
Prices fell 2.5% in the quarter, the FHFA reported. Prices are down 5.5% from a year ago. The FHFA’s monthly index fell 0.3% in March and is down 19.8% from its peak in April 2007……………………………………….Full Article: Source