FHFA Index: US House Prices Rose 0.9% To May From April
July 22 2009 - 11:58AM
Dow Jones News
U.S. house prices rose 0.9% from April to May on a seasonally
adjusted basis, the Federal Housing Finance Agency's monthly
pricing index shows.
The agency, which regulates Fannie Mae (FNM), Freddie Mac (FRE)
and the nation's network of Federal Home Loan Banks, said house
prices for the year ended in May are down 5.6%. It revised its
April index downward to show a 0.3% drop in house prices, a change
from the initially reported 0.1% decline.
The agency uses the purchase prices of houses backing mortgages
sold to Fannie Mae or Freddie Mac to calculate the index.
-By Meena Thiruvengadam, Dow Jones Newswires; 202-862-6629;
meena.thiruvengadam@dowjones.com