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FHFA Analyzes Impact Of Distressed Sales On Pricing
WASHINGTON (8/14/13)--The Federal Housing Finance Agency Tuesday released a paper that evaluates the impact of distressed sales--sales of bank-owned properties and short sales--on the FHFA house price index.
 
The study details recent and historical price discounts associated with distressed sales and provides statistical evidence supporting the validity of the approach FHFA has used to form its "distress-free" house price indexes, said FHFA. Such indexes, which were first released in the summer of 2012, show price trends free of the direct effects of distressed sales.
 
"Working Paper 13-01: Distressed Sales and the FHFA House Price Index" was authored by FHFA's Principal Economist Andrew Leventis and Economist Will Doerner in the agency's department of Housing Finance Research and Analysis.
 
FHFA working papers are preliminary products circulated to stimulate discussion and critical comment. The analysis and conclusions are those of the authors and do not imply concurrence by other staff at FHFA or its director, the agency said.
 
To access the paper, use the link.
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