FHFA: OCTOBER HOME PRICES INCREASE 0.3%

FHFA: OCTOBER HOME PRICES INCREASE 0.3%

The Federal Housing Finance Agency also says home prices rose 6.3% year over year.

WASHINGTON – October U.S. house prices increased 0.3% from September, according to the Federal Housing Finance Agency’s (FHFA) seasonally adjusted monthly House Price Index (HPI). Home prices rose 6.3% year over year. Also, the previously reported 0.6% price increase in September was revised to 0.7%.

For the nine census divisions, seasonally adjusted monthly price changes from September to October ranged from -0.3% in the New England division to +1.1% in the Middle Atlantic division. The South Atlantic division, which includes Florida, saw a seasonally adjusted monthly price change of 0.1%. The 12-month changes ranged from +2.6% in the Mountain division to +9.9% in the Middle Atlantic division.

“U.S. house price gains remained strong over the last 12 months.” said Nataliya Polkovnichenko, supervisory economist in FHFA’s Division of Research and Statistics. “On a monthly basis, price appreciation moderated in October, with four divisions exhibiting slowdowns from the previous month.”

The FHFA HPI is a comprehensive collection of publicly available house price indexes that measure changes in single-family home values based on data that extend back to the mid-1970s from all 50 states and over 400 American cities.

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