FHFA HPI: July House Prices Up 1.4% From June, 19.2% YOY

Home prices rose 1.4% in July, according to the Federal Housing Finance Agency’s House Price Index (FHFA HPI). Year-over-year house prices are up 19.2%. For the nine census divisions, seasonally adjusted monthly house price changes rose 0.8% in the West North Central division and fell 1.9% in the South Atlantic division. The West North Central division saw an increase of 15.6% over the same time the previous year. There was also a 25.6% increase in the Mountain division. “Record appreciation rates for the U.S. continued in July,” said Dr. Lynn Fisher, FHFA’s Deputy Director of the Division of Research and Statistics.  “Although the monthly pace of increase slowed in most Census Divisions in July, four areas experienced year over year…

FHFA HPI Beats Its Own Record, Again

The FHFA’s Q2 House Price Index (HPI) saw its largest ever annual gain, with house prices rising 17.4% year-over-year, up from 12.6% in the last quarter. This surge in home prices breaks the previous record, set in Q1. The FHFA HPI measures the movement of single-family house prices by reviewing repeat mortgage transactions on homes whose mortgages have been purchased or securitized by Fannie Mae or Freddie Mac since January 1975. “During the second quarter, house prices peaked in June with an 18.8 percent growth rate compared to a year ago,” said Dr. Lynn Fisher, Deputy Director of FHFA’s Division of Research and Statistics. “For the quarter, annual gains surpassed 20 percent in the Mountain, New England, and Pacific census divisions and…