OFHEO U.S. Housing Price Index Posts Largest Quarterly Decline on Record
House prices fell 0.4% month-over-month in March
following February’s revised 0.4% gain, and declined 1.7% quarter-over-
quarter in Q1 compared to a preceding 0.1% gain, the Office of Federal
Housing Enterprise Oversight (OFHEO) reported Thursday. The quarterly
fall was the largest decline on record.
The consensus had been looking for a 1.3% quarterly pullback
“These substantial home price declines bring positive and negative
news,” said OFHEO Director James Lockhart…
Original post by Mortgage News Daily - Mortgage And Real Estate News
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