U.S. Home Prices Fell 4% in August From Year Earlier, FHFA Says
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U.S. home prices dropped 4 percent in August from a year earlier as the housing market struggles to stabilize, according to the Federal Housing Finance Agency.
The slump was led by a 7.6 percent decrease in the region that includes Colorado and Arizona, the agency said today in a report from Washington. The second-largest decline was 6.8 percent in the area that includes California. Prices are down 19 percent from an April 2007 peak, the FHFA said.