HPI Saw Largest Dip in East South Central, New England Led Gains
The FHFA House Price Index (HPI) reported a 0.2% gain in U.S. house prices in August, an increase that missed the consensus forecast. However, from August 2018 to August 2019, U.S. house prices were up 4.6%.
Forecasts ranged from a low of 0.3% to a high of 0.4%. The consensus forecast was 0.4%.
For the nine census divisions, seasonally adjusted monthly price changes from July 2019 to August 2019 ranged from -0.8% in the East South Central division to a 0.9% gain in the New England division.
The 12-month changes were all positive, ranging from a gain of 3.9% in the Middle Atlantic and Pacific divisions to a 6.5% gain in the Mountain division.