The Office of Federal Housing Enterprise Oversight (OFHEO) reported home prices on its Purchase Only Index fell a seasonally adjusted 0.8% in April. Year-over-year prices are down 4.6%.

The Pacific region had the largest year-over-year decline at negative 15%, followed by the Mountain states at negative 4.9% and South Atlantic states at negative 4.8%. Two regions have seen positive year-over-year growth with the West South Central states up 1.9% and the East South Central higher by 0.1%.

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