A U.S. flag decorates a for-sale sign at a home in the Capitol Hill neighborhood of Washington, August 21, 2012. (Photo: Reuters)
The Federal Housing Finance Agency (FHFA) seasonally adjusted monthly House Price Index (HPI) rose 0.8% in January, easily beating the 0.3% median forecast. December was revised upward to 0.4%.
From January 2017 to January 2018, house prices rose 7.3%, also easily beating the 6.5% median forecast.
For the 9 U.S. Census Bureau divisions, seasonally adjusted monthly price changes from December 2017 to January 2018 ranged from -0.7% in the West South Central division to +1.2% in the New England and Pacific divisions. The 12-month changes were all positive, ranging from +5.1% in the West South Central division to +10.0% in the Mountain division.
About the House Price Index (HPI)
The FHFA monthly HPI is calculated using home sales price information from mortgages sold to, or guaranteed by, Fannie Mae and Freddie Mac. The HPI includes house price figures for the nine Census Bureau divisions, for the 50 states and the District of Columbia, and for Metropolitan Statistical Areas (MSAs) and Divisions.
