US Home Prices Inch Lower In July for Second Straight Month

Wednesday, 22 Sep 2010
Reuters

Prices of U.S. single-family homes fell for a second straight month in July, the Federal Housing Finance Agency (FHFA) said on Wednesday.

The FHFA’s house price index dropped by a seasonally adjusted 0.5 percent after declining by a revised 1.2 percent in June, which was previously reported as a 0.3 percent fall.

The regulator’s index is calculated by using purchase prices of houses financed with mortgages sold to or guaranteed by mortgage finance companies Fannie Mae [FNMA 0.2701 -0.0039 (-1.42%)] or Freddie Mac [FMCC 0.297 -0.003 (-1%)].

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