The Real Deal Miami

U.S. home prices down 16.5% from peak

March 22, 2011 01:07PM

Home prices dropped 0.3 percent nationwide between December and January on a seasonally adjusted basis, according to the Federal Housing Finance Agency’s monthly House Price Index released today. U.S. housing prices have declined 3.9 percent on the index year-over-year and have dropped 16.5 percent from the market’s peak in April 2007. The index, which relies on the sales price of homes backing Fannie Mae and Freddie Mac mortgages, shows prices dropped to May 2004 levels in January. TRD