The Federal Housing Finance Agency (FHFA) seasonally adjusted monthly House Price Index (HPI) rose slightly by 0.1% in April. The previously reported 0.1% gain in March was revised upward to 0.2%.
However, the headline missed the 0.5% consensus forecast.
The FHFA monthly HPI is calculated using home sales price information from mortgages sold to, or guaranteed by, Fannie Mae and Freddie Mac. From April 2017 to April 2018, house prices were up 6.4%.
For the nine census divisions, seasonally adjusted monthly price changes from March 2018 to April 2018 ranged from -0.5% in the West South Central division to +0.6% in the East North Central division. The 12-month changes were all positive, ranging from +4.6% in the West South Central division to +8.9% in the Mountain division.