House prices in the U.S. rose 0.5 percent in October on a seasonally adjusted basis according to the Federal Housing Finance Agency’s (FHFA) monthly House Price Index (HPI), down from a revised 0.7 percent increase in September. The FHFA HPI is calculated using home sales information from mortgages sold to or guaranteed by Fannie Mae and Freddie Mac. According to the Index, home prices are up 6.1 percent from a year ago.
Prices rose in seven of the nine census divisions, with changes ranging from a 0.5 percent decline in New England, to a 1.2 percent increase in the East South Central region. On a yearly basis, all divisions continued to see gains. Price increases in the Mountain division were most pronounced, increasing 8.9 percent, while New England saw the slowest year over year growth at 2.9 percent.
Read the FHFA release.
