U.S. house prices fell 0.1% in the fourth quarter of 2011, according to the Federal Housing Finance Agency's (FHFA) seasonally adjusted purchase-only house price index. On an unadjusted basis, prices fell 1.1%.
According to the FHFA, seasonally adjusted prices fell 2.4% from the fourth quarter of 2010.
‘While FHFA's national index shows a two percentage point price decline over the latest four quarters, 12 states and the District of Columbia posted price increases,’ says FHFA Principal Economist Andrew Leventis. ‘When coupled with the fact that about half of all states saw price increases in the latest quarter, this growth adds to mounting evidence that real estate markets are seeing at least some signs of life.’