U.S. Home Prices Fall 2.2 Percent From a Year Earlier, FHFA Says

U.S. home prices dropped 2.2 percent in the 12 months through September as the housing market struggled to emerge from a five-year bust, according to the Federal Housing Finance Agency.

The slump was led by a 5.7 percent decrease in the region that includes California, the agency said today in a report from Washington. The second-largest decline was 4.9 percent in the area that includes Nevada.