US home prices up 0.3 pct in March, fall 1.9 pct in Q1

WASHINGTON, May 25 (BestGrowthStock) – Prices of U.S. single-family
homes rose in March for the first time since November, but fell
in the first quarter, the Federal Housing Finance Agency (FHFA)
said on Tuesday.

The FHFA’s house price index rose a seasonally adjusted 0.3
percent after falling by a revised 0.4 percent, which was
previously reported as an 0.2 percent dip. Home prices dropped
1.9 percent in the first three months of the year, following a
0.5 percent fall in the fourth quarter, the agency said.

The regulator’s index is calculated by using purchase
prices of houses financed with mortgages sold to or guaranteed
by mortgage finance companies Fannie Mae (FNM.N: )(FNM.P: ) or
Freddie Mac (FRE.N: ) (FRE.P: ).

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(Reporting by Lucia Mutikani; editing by Jeffrey Benkoe)

US home prices up 0.3 pct in March, fall 1.9 pct in Q1