Wednesday, June 22, 2011

FHFA House Price Index rises 0.8% in April

House prices rose 0.8 percent on a seasonally adjusted basis from March to April, according to the Federal Housing Finance Agency’s (FHFA) monthly House Price Index. It was the first month-to-month price increase since May 2010.

The previously reported 0.3 percent decrease in March was revised to a 0.4 percent decrease. For the 12 months ending in April, U.S. prices fell 5.7 percent, and the U.S. index is 19.3 percent below its April 2007 peak and roughly the same as the January 2004 index level.

The FHFA monthly index is calculated by using the purchase price of houses sold to or guaranteed by Fannie Mae or Freddie Mac.

For the nine Census Divisions tracked during the March-April period, seasonally adjusted monthly price changes ranged from -1.3 percent in the Mountain Division to +2.2 percent in the New England Division.

Florida, which is in the South Atlantic division, was one of only three to show a price drop with -0.2 percent. 

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