The Federal Housing Finance Agency (FHFA) reports in its latest monthly House Price Index nationwide home prices rose 3.7 percent May 2011 thru May 2012. Home prices rose only 0.8 percent from April to May, while the price increase for April from the previous month was revised downward from 0.8 percent to 0.7 percent. As HousingWire tells MHProNews, the current home price index remains 17 percent below its level in 2007.

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