"The prices of homes sold in the first quarter of 2008 posted a record decline, according to a new report from the Office of Federal Housing Enterprise Oversight.
Home prices fell 3.1% from the first quarter of 2007, the largest decline in the purchase-only index, which excludes refinancings, since the agency began keeping records 17 years ago.
First-quarter prices dropped 1.7% from the fourth quarter, the largest quarterly dip ever."
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Home prices see largest recorded fall
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