The FHFA House Price Index (HPI) finds house prices rose just 0.1% in May and 5.0% year-over-year from May 2018 to May 2019. The stronger-than-expected 0.4% increase for April 2019 was unchanged, while the year-over-year was revised slightly higher from 5.2% to 5.3%.
|Prior||Revised||Consensus Forecast||Forecast Range||Result|
|M/M ∆||0.4%||0.3%||0.1% to 0.3%||0.1%|
For the nine census divisions, seasonally adjusted monthly house price changes from April 2019 to May 2019 ranged from -1.0% in East South Central to +0.5% in the South Atlantic. The 12-month changes were all positive, ranging from +3.6% in West South Central to +6.7% in the Mountain.
The FHFA monthly HPI is derived from home sales price information from mortgages sold to, or guaranteed by, Fannie Mae and Freddie Mac.