Home prices on less slippery slope?

OFHEO indexes show slowdown in price declines

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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.