Freddie Mac recently released their survey of house prices which is based on single-family repeat purchases (no refinances). House prices in the US showed a 6.7% drop from the 2Q08 to 2Q09. The Pacific region showed the largest decline, while the West South Central region showed little change.
There are several popular house price index sources: Freddie’s CMHPI (CMHPI Data – Freddie Mac), OFHEO’s HPI (Federal Housing Finance Agency – House Price Index), and S&P Case-Shiller’s Home Price Index ( S&P | Indices > Alternative Indices – S&P/Case-Shiller® Home Price Indices – Home Price Values).
Source: Freddie Mac