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OFHEO: Housing Prices Decline for First Time in 13 Years 

Nov 29, 2007By

The Office of Federal Housing Enterprise Oversight’s HPI numbers for the third quarter are out today, and registered a quarterly decline for the first time in thirteen years, with the aggregate index dropping 0.4 percent versus the second quarter of 2007. The HPI purchase-only index dropped 0.3 percent on a seasonally-adjusted basis, OFHEO said. Year over year, the HPI showed an increase of 1.8 percent — the lowest four-quarter increase since 1995.

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