The Federal Housing Finance Agency House Price Index was 1.6 percent lower in the third quarter than the second quarter of 2010. Monthly prices were down 0.7 percent in September, and 3.4 percent below the year before. The index, calculated from mortgages acquired by Fannie Mae and Freddie Mac, shows prices down a total of 8.4 percent over the past five years. The Standard & Poor’s Case-Shiller Home Price Index also shows prices falling in the third quarter, dropping 2.0 percent after increases in four of the previous five quarters. Still, the 20-city composite index was up 0.6 percent in September from a year earlier and the 10-city composite rose 1.6 percent. More here, here, here and here.
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James Harris 