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U.S. Home price index fell 2.5pct in first quarter of this year

Posted on 26 May 2011

A federal agency said Thursday U.S. home prices fell 2.5 percent in the first quarter, the largest quarterly drop since the fourth quarter of 2008. The Federal Housing Finance Agency, which tracks prices for homes with mortgages backed by either the Federal National Mortgage Association or the Federal Home Loan Mortgage Corp., also said prices fell 5.5 percent from the first quarter of 2010 to the same three months of 2011.
For the quarter, prices fell in 43 states and the District of Columbia……………………………………….Full Article: Source

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