Home prices fell 0.3% in June on seasonally adjusted basis, according to the Federal Housing Finance Agency house price index, which had trended upward for the past four months.
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The FHFA index, which is based on Fannie Mae and Freddie Mac purchase mortgage transactions, is down 1.6% from a year ago.
"Seasonally adjusted, purchase-only indexes indicate that prices rose in the latest quarter in 27 states. Prices rose over the past four quarters in 10 states and Washington, D.C.," the GSE regulator said in its second quarter report released Wednesday.
