Area home prices fell in third quarter, feds say

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Staff Report 11:17 AM Monday, November 30, 2009

Home prices in Dayton and other Ohio cities fell in the third quarter, according to an index calculated by the Federal Housing Finance Agency.

Home prices in the Dayton Metropolitan Statistical Area slipped 1.9 percent in the quarter, versus the same period in 2008, the agency reported. Based on third quarter home prices, the area made up of Greene, Miami, Montgomery and Preble counties ranked 130th of 297 MSAs.

The index includes purchase and mortgage refinancing from the Federal Home Loan Mortgage Corp. and the Federal National Mortgage Association.

Between the second and third quarters of 2009, house prices fell 0.6 percent. Over the last five years, area house prices climbed 1 percent, the agency said.

In the Cincinnati-Middletown MSA, third-quarter house prices fell 2.1 percent over the same quarter in 2008. Springfield during the quarter experienced a drop in prices of 0.3 percent, ranking it 77th of the nation’s MSAs. In Columbus, home prices dropped 1.1 percent in the quarter, compared with the year-ago period.

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