DOW JONES NEWSWIRES
WASHINGTON (Dow Jones)
U.S. home prices fell a seasonally adjusted 1.9% in the first quarter, but rose 0.3% in March, the first monthly increase since November, the Federal Housing Finance Agency reported Tuesday. The agency readjusted the change from January to February to -0.4%, down from its initial estimate of -0.2%. The FHFA index is based on repeat sales of homes financed by Fannie Mae (FNM) or Freddie Mac (FRE). In the past year, prices rose in four states and in the District of Columbia. Nationally, prices are down about 14% from their peak in 2007. In March, prices rose in six out of nine U.S. Census Divisions. The Mid-Atlantic and New England regions as well as the U.S. Census Division encompassing Texas, Oklahoma, Louisiana and Arkansas saw prices drop.
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