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Home prices fall in the fourth quarter of 2011

House prices continued to fall in the fourth quarter of 2011.

House prices continued to fall in the fourth quarter of 2011.

According to recently released figures from the Federal Housing Finance Agency, U.S. home prices fell in the fourth quarter of 2011 by 0.1 percent on a seasonally adjusted basis when compared with the third quarter.

While home prices decreased, the FHFA's seasonally adjusted monthly index for December was up 0.7 percent from November.

“While FHFA’s national index shows a  2 percentage point price decline over the latest four quarters, 12 states and the District of Columbia posted price increases,” said FHFA Principal Economist Andrew Leventis. “When coupled with the fact that about half of all U.S. 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.” 

Over the past year, seasonally adjusted prices decreased 2.4 percent from the fourth quarter of 2010 to the same time in 2011. Despite the decrease, the cost of other goods and services increased 4 percent during the same period.

According to 600 Coldwell Banker Real Estate professionals in the United States, homebuyers and sellers are agreeing more on home prices, which is making the relocation cost for many consumers more affordable.