FHFA says housing prices drop 0.3% in January (by Jeffry Bartash)
WASHINGTON (MarketWatch) - U.S. housing prices fell a seasonally adjusted 0.3% in January, the Federal Housing Finance Agency reported Tuesday. Data for December was revised down to 1.0% drop from an orginally reported decline of 0.3%. Sales data is based on mortgages sold or guaranteed by Fannie Mae and Freddie Mac. The FHFA said housing prices are down 3.9% in the past 12 months. The agency's home price index is 16.5% below its April 2007 peak.