Home prices falling again?

This comes from Calculated Risk:

Earlier today I mentioned that the Fed started using First American CoreLogic's LoanPerformance House Price Index last year for the Flow of Funds report.

And also that LoanPerformance announced today that house prices fell 0.7% in October.

Since most people have been following Case-Shiller, here is a graph of the LoanPerformance index (with and without foreclosures) and the Case-Shiller Composite 20 index.

The LoanPerformance HPI with foreclosures is the red line, the LoanPerformance HPI without foreclosures is the blue line, and the Case-Shiller 20-city index is the green line. (The Case-Shiller index includes foreclosures.) Notice that both LoanPerformance indices show falling prices again, while the Case-Shiller index is showing slowing price increases. Click on the graph to see the full-sized version.

Consider this a Christmas present for bubbleheads.