Pennsylvania

U.S. Home Prices Continue to Tumble: OFHEO 

As might be expected, July brought a continued decline in home prices nationwide — average prices fell 0.6 percent compared to one month earlier on a seasonally-adjusted basis, and 5.3 percent from average prices one year ago, according to data released Tuesday by the Office of Federal Housing Enterprise Oversight. (Don’t worry: we were confused too, given that OFHEO has technically been replaced by the Federal Housing Finance Agency; but the release was, in fact, put out by the OFHEO).