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Home prices fall at fastest pace since late 2008

Posted on 26 May 2011

Edward DeMarcoAnother 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

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