U.S. house prices fell 0.1% on a seasonally adjusted basis from July to August, according to the Federal Housing Finance Agency's monthly House Price Index, which is based on prices of homes with mortgages backed by Fannie Mae or Freddie Mac. The agency also downwardly revised its July HPI, which originally showed a 0.8% increase, to reflect no change in prices.
For the 12 months ending in August, U.S. prices fell 4%. The index is nearly 20% below its April 2007 peak and is roughly the same as the February 2004 index level, the FHFA says.
For the nine census divisions, seasonally adjusted monthly price changes from July to August ranged from -1.3% in the West North Central division to +0.9% in the South Atlantic division.