Home prices grew 0.86% for the quarter (3.45% annualized) nationally, compared to an upwardly revised 1.3% (5.1% annualized) in the second quarter, according to the Office of Federal Housing Enterprise Oversight's quarterly survey. Compared to a year ago, home prices were up 7.73% in the third quarter, down from 10.06% reported in the second quarter, and down from a high of 13.9% reported for 2Q05.

For the quarter, five states recorded negative home price growth: New York (-0.33%), Rhode Island (-0.37%), New Hampshire (-0.14%), Massachusetts (-0.49%), and Michigan (-0.52%).

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