Significant Findings:
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The seasonally adjusted purchase-only HPI declined in the first quarter in 42 states and the District of Columbia.
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Of the nine Census Divisions, the West South Central and Mountain Divisions experienced the most extreme price movements in the latest quarter. The Mountain Division experienced the largest decline, with a price drop of 3.4 percent. The strongest prices were in the West South Central Division, where prices declined only 0.5 percent.
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As measured with purchase-only indexes for the 25 most populated metropolitan areas in the U.S., four-quarter price declines were greatest in the Atlanta-Sandy Springs-Marietta, GA area. That area saw price declines of 13.5 percent between the first quarters of 2010 and 2011.
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Prices held up best in Pittsburgh, PA, where prices rose 0.2 percent over that period.