Existing-home prices across the U.S. dipped down again in December, reporting a 0.3% decline nationally with most areas posting losses, according to data released today by the Federal Housing Finance Agency (FHFA), which collects data on resales from mortgages acquired by Fannie Mae and Freddie Mac.
The Mountain region, an area including Arizona, Colorado, Idaho, Montana, Nevada, New Mexico, Utah, and Wyoming, offered a bright spot with an increase of 3.0% over November. However, this area also posted the largest year-over-year decline with a drop of 5.6%.
The South Atlantic region—which includes Delaware, the District of Columbia, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia, and West Virginia—also posted a more modest 0.3% gain, but a loss of 3.8% from the year before.
The West North Central region stayed flat for the month, with all other regions reporting modest losses, the worst of which was reported in the East South Central region (Alabama, Kentucky, Mississippi, and Tennessee) with a 1.2% drop from the month before and a 3.3% decline from a previous year.
The low numbers contributed to the house price index’s 0.8% slide for the quarter, a 3.9% decline from the fourth quarter of 2009, which when adjusted for inflation reflects a 5.7% fall in home prices from the previous year.
Claire Easley is senior editor, online, for Builder.
Learn more about markets featured in this article: Greenville, SC.
