Report Shows Home Prices Remained Steady

The rate of increase in U.S. home prices remained steady in the fourth quarter of 2006, according to the Office of Federal Housing Enterprise Oversight. Average home prices rose 1.12 percent in the quarter – still faster than the prices of other goods and services, the report noted.

“These data show that, on the whole, (home) prices are still rising, albeit at a much slower pace,” OFHEO Director James B. Lockhart said in a statement. “This suggests that house-price appreciation is, for now, more in line with historical norms.”

The fourth-quarter figure is derived from an average of home prices in October, November and December.

Source: Office of Federal Housing Enterprise Oversight at http://www.ofheo.gov