US FHFA home price in­dex rises 0.5% in Jan­uary

Financial Mirror (Cyprus) - - FRONT PAGE -

The Federal Hous­ing Fi­nance Agency (FHFA) re­ported that U.S. home prices rose 0.5% month over month in Jan­uary. Com­pared with Jan­uary 2015, the house price in­dex has gained 6%. The 0.4% in­dex in­crease pre­vi­ously re­ported for De­cem­ber was re­vised up­ward to 0.5%.

The FHFA monthly in­dex is cal­cu­lated us­ing pur­chase prices of houses with mort­gages that have been sold to or guar­an­teed by Fan­nie Mae or Fred­die Mac.

The con­sen­sus es­ti­mate for Jan­uary in­crease of 0.6%.

Over the past 12 months, gains have been great­est in the South At­lantic states, up 8.9%, and the least in the Mid­dle At­lantic states, which are up 1.7%. The year-over-year in­dex rose in all nine Cen­sus Bu­reau di­vi­sions in Jan­uary.

Home prices posted month-over-month gains in eight of nine Cen­sus Bu­reau di­vi­sions. Only the Mid­dle At­lantic (down 1%) showed a de­cline. The South At­lantic re­gion posted the largest month-over-month price gain, up 1.7%. The West North Cen­tral re­gion posted a gain of 1.2%; the Moun­tain and New Eng­land re­gions rose 0.8%; the East North Cen­tral re­gion rose 0.4%; the West South Cen­tral re­gion gained 0.3%; the East South Cen­tral re­gion gained 0.1%; and the Pa­cific re­gion was un­changed.

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