Home prices hit 2004 levels

The Housing Wire reports:

House prices inched higher in July, but are down 3.3% for the year ended July 31 and 18.4% lower than the April 2007 peak, according to the Federal Housing Finance Agency.

The regulator, which holds Fannie Mae and Freddie Mac in conservatorship, said July home prices increased 0.8% and are at levels last seen in March 2004. The agency lowered June's gain to 0.7% from a previously reported 0.9% increase.