FHFA House Price Index Falls 0.2 Percent in October
Washington, DC – December 22, 2011 – (RealEstateRama) — U.S. house prices fell 0.2 percent on a seasonally adjusted basis from September to October, according to the Federal Housing Finance Agency’s monthly House Price Index. The previously reported 0.9 percent increase in September was revised downward to reflect a 0.4 percent increase. For the 12 months ending in October, U.S. prices fell 2.8 percent. The U.S. index is 19.2 percent below its April 2007 peak and roughly the same as the February 2004 index level.
The FHFA monthly index is calculated using purchase prices of houses backing mortgages that have been sold to or guaranteed by Fannie Mae or Freddie Mac. For the nine census divisions, seasonally adjusted monthly price changes from September to October ranged from -1.0 percent in the New England division to +2.0 percent in the East South Central division.
Monthly index values and appreciation rate estimates for recent periods are provided in the table and graphs on the following pages. Click here for complete historical data.
For detailed information concerning the monthly HPI, please see the HPI Frequently Asked Questions (FAQ). The next release will be on Jan. 25, 2012 and will include monthly HPI data for November 2011. Release dates for the remainder of 2012 are available here.
The Federal Housing Finance Agency regulates Fannie Mae, Freddie Mac and the 12 Federal Home Loan Banks.
These government-sponsored enterprises provide more than $5.7 trillion in funding for the U.S. mortgage markets and financial institutions.
Corinne Russell (202) 414-6921
Stefanie Johnson (202) 414-6376