The slump in home prices was both deeper and more widespread than ever in the fourth quarter, according to a trade group report Thursday.Here is the NAR report: Fourth Quarter Metro Home Prices & State Sales Likely Have Hit Bottom
Prices slumped 2.7 percent in the fourth quarter compared to the fourth quarter a year earlier, according to the report from the National Association of Realtors (NAR). That's the biggest year-over-year drop on record and follows a 1.0 percent year-over-year decline in the third quarter.
I mostly use the OFHEO House Price Index, not the NAR data. OFHEO will release Q4 data on March 1st.