Home prices nationwide registered a 1.1 percent decline in the first quarter of 2010 compared with the first quarter of 2009, according to Freddie Mac’s Conventional Mortgage Home Price Index (CMHPI) Purchase-Only Series. The Index was down 2.1 percent compared with the fourth quarter. The CMHPI Purchase-Only Series includes only property values based on home purchases with a conventional mortgage in its calculation.
Regionally, the Pacific Division, which includes California, decreased 2 percent in the first quarter of 2010. Over the last 12 months, home values increased 4.5 percent, and during the last five years, home values have decreased 13.2 percent, according to the CMHPI.
Source: Freddie Mac
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