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FHFA: Home Prices Fall for the First Time in Four Months
FHFA: Home Prices Fall for the First Time in Four Months
FHFA: Home Prices Fall for the First Time in Four Months
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October 26, 2011 (Shirley Allen)

Monthly home prices fell for the first time in four months in August according to the Federal Housing Finance Agency’s monthly House Price Index (HPI), declining by 0.1 percent from July. Home prices were four percent lower than in August 2010.

FHFA also revised July’s Index to reflect no change in prices from June to July wiping out the previously reported 0.8 percent gain.

According to data in the Index, home prices have declined 19.1 percent below the April 2007 peak and are roughly at the same levels last seen in February 2004.

FHFA gathers its data by calculating purchase prices of houses backed by mortgages sold to or guaranteed by Fannie Mae and Freddie Mac. The data is then broken down into nine geographic Census Divisions.

From July to August, only one of the nine Census Divisions posted a price gain while two Divisions remained unchanged from the previous month and six Divisions posted losses.

The South Atlantic Division posted a price gain of 0.9 percent while the West South Central and East South Central Divisions remained unchanged from last month. The West North Central Division posted the largest monthly decline of 1.3 percent.

All nine Divisions experienced year-over-year price declines with the Mountain Division posting the largest decline of 7.6 percent while the East South Central Division posted the smallest decline of 1.9 percent.

FHFA HPI for August 2011

Census Divisions:

Pacific: Hawaii, Alaska, Washington, Oregon, California

Mountain: Montana, Idaho, Wyoming, Nevada, Utah, Colorado, Arizona, New Mexico

West North Central: North Dakota, South Dakota, Minnesota, Nebraska, Iowa, Kansas, Missouri

West South Central: Oklahoma, Arkansas, Texas, Louisiana

East North Central: Michigan, Wisconsin, Illinois, Indiana, Ohio

East South Central: Kentucky, Tennessee, Mississippi, Alabama

New England: Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, Connecticut

Middle Atlantic: New York, New Jersey, Pennsylvania

South Atlantic: Delaware, Maryland, District of Columbia, Virginia, West Virginia, North Carolina, South Carolina, Georgia, Florida

Tags: FHFA, home prices, HPI, census divisions, price gains, price declines

Source:
FHFA

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Helpful Tools
Mortgage
Calculator
Estimate your monthly mortgage payment
Auto Loan
Calculator
Determine how much car you can afford before buying
Learn About
Mortgage Loans
Learn about the different types of home loans
15 Year vs 30 Year
Loan Comparison
Compare 15 year and 30 year mortgage loans
Todays Mortgage
Rates
See today's mortgage rates. Shop, compare and save.

October 26, 2011 (Shirley Allen)

Monthly home prices fell for the first time in four months in August according to the Federal Housing Finance Agency’s monthly House Price Index (HPI), declining by 0.1 percent from July. Home prices were four percent lower than in August 2010.

FHFA also revised July’s Index to reflect no change in prices from June to July wiping out the previously reported 0.8 percent gain.

According to data in the Index, home prices have declined 19.1 percent below the April 2007 peak and are roughly at the same levels last seen in February 2004.

FHFA gathers its data by calculating purchase prices of houses backed by mortgages sold to or guaranteed by Fannie Mae and Freddie Mac. The data is then broken down into nine geographic Census Divisions.

From July to August, only one of the nine Census Divisions posted a price gain while two Divisions remained unchanged from the previous month and six Divisions posted losses.

The South Atlantic Division posted a price gain of 0.9 percent while the West South Central and East South Central Divisions remained unchanged from last month. The West North Central Division posted the largest monthly decline of 1.3 percent.

All nine Divisions experienced year-over-year price declines with the Mountain Division posting the largest decline of 7.6 percent while the East South Central Division posted the smallest decline of 1.9 percent.

FHFA HPI for August 2011

Census Divisions:

Pacific: Hawaii, Alaska, Washington, Oregon, California

Mountain: Montana, Idaho, Wyoming, Nevada, Utah, Colorado, Arizona, New Mexico

West North Central: North Dakota, South Dakota, Minnesota, Nebraska, Iowa, Kansas, Missouri

West South Central: Oklahoma, Arkansas, Texas, Louisiana

East North Central: Michigan, Wisconsin, Illinois, Indiana, Ohio

East South Central: Kentucky, Tennessee, Mississippi, Alabama

New England: Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, Connecticut

Middle Atlantic: New York, New Jersey, Pennsylvania

South Atlantic: Delaware, Maryland, District of Columbia, Virginia, West Virginia, North Carolina, South Carolina, Georgia, Florida

Tags: FHFA, home prices, HPI, census divisions, price gains, price declines

Source:
FHFA

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
HOW LOANRATENETWORK
LOAN CENTER WORKS
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Information You Can Use
Helpful Tools

October 26, 2011 (Shirley Allen)

Monthly home prices fell for the first time in four months in August according to the Federal Housing Finance Agency’s monthly House Price Index (HPI), declining by 0.1 percent from July. Home prices were four percent lower than in August 2010.

FHFA also revised July’s Index to reflect no change in prices from June to July wiping out the previously reported 0.8 percent gain.

According to data in the Index, home prices have declined 19.1 percent below the April 2007 peak and are roughly at the same levels last seen in February 2004.

FHFA gathers its data by calculating purchase prices of houses backed by mortgages sold to or guaranteed by Fannie Mae and Freddie Mac. The data is then broken down into nine geographic Census Divisions.

From July to August, only one of the nine Census Divisions posted a price gain while two Divisions remained unchanged from the previous month and six Divisions posted losses.

The South Atlantic Division posted a price gain of 0.9 percent while the West South Central and East South Central Divisions remained unchanged from last month. The West North Central Division posted the largest monthly decline of 1.3 percent.

All nine Divisions experienced year-over-year price declines with the Mountain Division posting the largest decline of 7.6 percent while the East South Central Division posted the smallest decline of 1.9 percent.

FHFA HPI for August 2011

Census Divisions:

Pacific: Hawaii, Alaska, Washington, Oregon, California

Mountain: Montana, Idaho, Wyoming, Nevada, Utah, Colorado, Arizona, New Mexico

West North Central: North Dakota, South Dakota, Minnesota, Nebraska, Iowa, Kansas, Missouri

West South Central: Oklahoma, Arkansas, Texas, Louisiana

East North Central: Michigan, Wisconsin, Illinois, Indiana, Ohio

East South Central: Kentucky, Tennessee, Mississippi, Alabama

New England: Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, Connecticut

Middle Atlantic: New York, New Jersey, Pennsylvania

South Atlantic: Delaware, Maryland, District of Columbia, Virginia, West Virginia, North Carolina, South Carolina, Georgia, Florida

Tags: FHFA, home prices, HPI, census divisions, price gains, price declines

Source:
FHFA

HOW LOANRATENETWORK
LOAN CENTER WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Information You Can Use

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