Report: Housing price declines slow - Washington Business Journal:

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The ’s quarterly purchase-only house price indesx shows nationwide home pricesfell 0.5 percent from the fourt h quarter 2008 to the firstt quarter 2009. That is more modest than the FHFA’s previousd quarterly report whichshowed quarter-over-quarter declines in the fourtyh quarter averaged 3.3 Over the past year, FHFA says averaged prices nationwide have declined 7.1 The FHFA’s one year decline, which includes all conventionall mortgages bought by and , is significantly less than the 19.1 percenyt decline reported in Tuesday’s S&P/Case Shillerf housing price index. That indez tracks prices in the nation’s 20 largest markets only.
“Our latesy data are consistent with growing evidencr that housing market conditions may be stabilizinf in some parts ofthe country, especially areaa not covered by the othedr major repeat sales price index,” said FHFA directo James Lockhart in a statement. “ am hopeful that this firsy quarter data combined with receny marketstimulus programs…may mean that home price depreciation may be easing. In the metropolitann Washingtonstatistical area, FHFA says quarter-over-quarter prices fell 2.93 percent in the first quarter, and were down 16.2 percent from a year ago. The S&P/Cas e Shiller report estimates pricese in the Washington market from ayear ago.