A news release a couple of days ago from OFHEO stated that “U.S. home prices rose approximately 0.6 percent on a seasonally-adjusted basis between January and February” of 2008. Who are these guys I wondered?

OFHEO is the Office of Federal Housing Enterprise Oversight, an obscure agency tasked with the huge responsibility of monitoring and regulating the two huge companies Fannie Mae and Freddie Mac. So I jumped on the internet to check them out. With their vast resources, I’d have to assume their numbers are accurate – so are we beginning to see light at the end of the tunnel for declining real estate prices? Time will tell!

But check out their chart that tracks monthly appreciation rates – will this trend continue or is this just a sucker punch to values? Here’s the complete 3 page pdf file to check out.