National home prices have been on the decline since June 2006 with a few bursts of increases, which Lender Processing Services (LPS) attributes to seasonal trends. Overall, prices have declined 28.3 percent since their peak in June 2006, according to LPS’ home price index. LPS reports home prices fell 0.9 percent across the nation in August, after a smaller 0.4 percent decline the previous month. August prices were 3.8 percent below last year’s prices.
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