The Federal Housing Finance Agency (FHFA) House Price Index (HPI) found U.S. house prices gained 0.2 in November, and 4.9% year-over-year. That’s the first time the HPI fell below a 5% annual rate since 2015.
The previously reported 0.2% increase for October 2019 was revised higher by two fold to 0.4%. Forecasts ranged from a low of 0.2% to a high of 0.4%. The consensus was 0.3%.
For the nine census divisions, seasonally adjusted monthly house price changes from October 2019 to November 2019 ranged from -0.1% in the Mountain division to +0.8% in the East North Central division.
The 12-month changes were all positive, ranging from +3.8% in the New England and the West South Central divisions to +6.3% in the Mountain division.