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Home prices are about more than housing

NEW YORK (MarketWatch) — Measures of home prices have become as numerous as dandelions in the lawn of a foreclosed home.

The National Association of Realtors, real-estate websites CoreLogic and Trulia, and government agencies like the Federal Housing Finance Agency and the Commerce Department all report indexes covering real-estate values.

The best known, the S&P/Case-Shiller home price index, reported Tuesday that home prices nationally fell 2.0% in the first quarter.

The S&P report warned home prices haven’t yet turned the corner, although other measures, including the CoreLogic measure, show prices have bottomed out. (That’s especially true when distressed sales, which tend to be made at a steep discount, are excluded from the mix.)

According to Jed Kolko, chief economist at Trulia, the indexes differ in three major ways: the mix of homes listed and sold Read more…

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