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OFHEO: Home Prices Fall Again

U.S. home prices fell 1.1 percent from September to October and 7.5 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. But the month-over-month decline was slightly less than the 1.2 percent drop recorded in September. Home prices have fallen 8.8 percent since their peak in April 2007, OFHEO reports

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