Home prices drop in 15 states during Q2

Home prices fell in California, Nevada, Michigan, Michigan and Massachusetts during the last year, while Utah and Wyoming saw double-digit price appreciation, according to a house-price index based on repeat transactions involving conforming loans of $417,000 or less.

Nationwide, second-quarter home-price appreciation was essentially flat from the previous quarter at 0.1 percent, the lowest growth since the fourth quarter of 1994, the Office of Federal Housing Enterprise Oversight (OFHEO) said in releasing its House Price Index. more...

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