Home Prices Drop 6.3% in May From Year Earlier, FHFA Says
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U.S. home prices fell 6.3 percent in May from a year earlier as foreclosures weighed down values and purchases slumped.
The decline was led by a 9.9 percent decrease in the region that includes California, the Federal Housing Finance Agency said today in a report from Washington. The second-largest drop was 9.2 percent in the area that includes Nevada and Arizona.