Abstract:

Home prices fell 0.1% in April in the Federal Housing Finance Agency (FHFA) index for home purchases. Home prices were 3.6% below a year ago. The index has been approximately steady so far this year consistent with steady reports for housing starts and the slight upward trend for home sales. This is more evidence that the national housing recession has bottomed with a gradual upturn likely in the summer. But major regional differences still exist.

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