Home prices rose in November, inching forward 0.4% from October, according to the latest monthly House Price Index from the Federal Housing Finance Agency.
The FHFA monthly HPI is calculated using home sales price information from mortgages sold to, or guaranteed by, Fannie Mae and Freddie Mac. Because of this, the selection excludes high-end homes bought with jumbo loans or cash sales.
According to FHFA, from November 2017 to November 2018, house prices rose 5.8%.
Monthly, across the nine census divisions, seasonally adjusted monthly price changes ranged from a 0.8% decrease in the Pacific division and a 1.1% increase in the South Atlantic division.
Notably, the 12-month changes increased across all U.S. divisions, ranging from 4.5% in the West South Central division to 7.4% in the Mountain division.
The chart below compares 12-month price changes to the prior year:
(click to enlarge)
These are the states in each census division mentioned:
Pacific: Hawaii, Alaska, Washington, Oregon, California
South Atlantic: Delaware, Maryland, District of Columbia, Virginia, West Virginia, North Carolina, South Carolina, Georgia, Florida
West South Central: Oklahoma, Arkansas, Texas, Louisiana
Mountain: Montana, Idaho, Wyoming, Nevada, Utah, Colorado, Arizona and New
Published at Wed, 23 Jan 2019 15:08:00 +0000