FHFA House Price Index Increases 0.7 Percent in August
Home prices nationwide rose 0.7 percent from July to August on a seasonally adjusted basis, according to the Federal Housing Finance Agency’s monthly House Price Index released Oct. 23.
For the 12 months ending in August, U.S. prices rose 4.7 percent. The HPI is 15.9 percent below its April 2007 peak and is roughly the same level as the June 2004 index.
Seasonally adjusted monthly price changes for the nine census divisions tracked by the HPI ranged from a 0.5 percent decrease in the East South Central division (Alabama, Kentucky, Mississippi and Tennessee) to a 3.0 percent increase in the Pacific division (Alaska, California, Hawaii, Oregon and Washington). The 12-month changes ranged from increases of 0.4 percent in the Middle Atlantic division (New Jersey, New York and Pennsylvania) to 11.4 percent in the Mountain division (Arizona, Colorado, Idaho, Montana, Nevada, New Mexico, Utah and Wyoming).
FHFA calculates the monthly indexes using the purchase prices of homes with loans owned or guaranteed by Fannie Mae or Freddie Mac.
See the monthly HPI.