Home prices on less slippery slope?

OFHEO indexes show slowdown in price declines

The rate of decline in U.S. home prices slowed during the second quarter, but the 4.8 percent year-over-year drop in a house price index that relies on data from Fannie Mae and Freddie Mac was the largest in the index’s 17-year history.

The Office of Federal Housing Enterprise Oversight’s national purchase-only house price index showed prices falling a seasonally adjusted 1.4 percent during the second quarter, compared to 1.7 percent in the first quarter.