America’s housing slump is continuing, according to data released yesterday by the Federal Housing Finance Agency (FHFA). US house prices dropped 0.3 per cent from December to January, the FHFA said. Furthermore, the previously reported 0.3 per cent dip in December was revised down to a significant one per cent fall. In January, prices were 3.9 per cent lower than the same time last year. The index is 16.5 per cent below its April 2007 peak.