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Home Prices Fall in August: OFHEO

U.S. home prices fell 0.6 percent from July to August and 5.9 percent compared to a year ago, according to the Office of Federal Housing Enterprise Oversight’s (OFHEO) latest monthly House Price Index. The index is calculated using purchase prices of homes with mortgages bought or guaranteed by Fannie Mae or Freddie Mac. Home prices have fallen 6.5 percent since their peak in April 2007, OFHEO reports.

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