FHFA House Price Index Up 0.5 Percent in October
Washington, DC – December 20, 2012 – (RealEstateRama) — U.S. house prices rose 0.5 percent on a seasonally adjusted basis from September to October, according to the Federal Housing Finance Agency’s monthly House Price Index (HPI). The previously reported 0.2 percent increase in September was revised downward to a 0.0 percent change. For the 12 months ending in October, U.S. prices rose 5.6 percent. The U.S. index is 15.7 percent below its April 2007 peak and is roughly the same as the July 2004 index level.
For the nine census divisions, seasonally adjusted monthly price changes from September to October ranged from -1.3 percent in the Middle Atlantic division to +2.0 percent in the Pacific division while the 12-month changes ranged from -0.1 percent in the New England division to +13.1 percent in the Mountain division.
FHFA uses the purchase prices of houses with mortgages owned or guaranteed by Fannie Mae or Freddie Mac to calculate the monthly index. 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 HPI release will be on Jan. 23, 2013 and will include monthly data for November 2012. Release dates for 2013 are available here.
Important Note: Beginning on Jan. 23, 2013, the release time for the HPI will change from 10 A.M. to 9 A.M. EST.
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
Contact: Corinne Russell (202) 649-3032
Stefanie Johnson (202) 649-3030