The Federal Housing Finance Agency (FHFA) House Price Index (HPI) finds U.S. house prices rose a seasonally adjusted 0.4% in April from the previous month. The previously reported 0.1% increase for March 2019 remained unchanged, and house prices were up 5.2% year-over-year.
|Indicator||Prior||Consensus Forecast||Forecast Range||Result|
|HPI M/M ∆||0.1%||0.2%||0.0% to 0.4%||0.4%|
|HPI Y/Y ∆||5.0%||5.2%|
The FHFA monthly HPI is calculated using home sales price information from mortgages sold to, or guaranteed by, Fannie Mae and Freddie Mac.
For the nine census divisions, seasonally adjusted monthly house price changes from March 2019 to April 2019 ranged from -0.6% in the West North Central division to +1.2% in the Mountain division. The 12-month changes were all positive, ranging from +4.0% in the Middle Atlantic division to +7.8% in the Mountain division.
Worth noting, the S&P CoreLogic Case-Shiller U.S. National Home Price Index (HPI) covering all nine U.S. census divisions, continued to show slower gains in home prices in April. The two HPIs have typically mirrored each other.