FHFA: U.S. home prices climb 4.6% from last August

Home prices increased in August, rising only 0.2% from the previous month but up 4.6% from 2018, according to the latest monthly House Price Index from the Federal Housing Finance Agency.

The FHFA monthly HPI is calculated using home sales price information from mortgages sold to or guaranteed by, Fannie Mae and Freddie Mac. Because of this, the selection excludes high-end homes bought with jumbo loans or cash sales.

The report explains that across the nine census divisions, the New England division saw the strongest appreciation growth, rising by 0.9% in August, whereas the East South-Central division experienced no growth, as appreciation declined 0.8%.

However, the FHFA highlights that the 12-month changes were all positive, with the Middle Atlantic and Pacific divisions posting the smallest gain of 3.9%, and the Mountain division leading the way with a 6.5% increase.

These are the states located in each
division mentioned:

New England division:
Maine, New
Hampshire, Vermont, Massachusetts, Rhode Island, Connecticut

East South-Central:
Kentucky,
Tennessee, Mississippi, Alabama

Middle Atlantic: New York, New
Jersey, Pennsylvania

Pacific: Hawaii, Alaska, Washington, Oregon, California

Mountain: Montana, Idaho, Wyoming, Nevada, Utah, Colorado,
Arizona, New Mexico

The
chart below compares 12-month price changes to the prior year:

[Update: This article is updated to reflect that the data in the FHFA report references August home price data.]

The post FHFA: U.S. home prices climb 4.6% from last August appeared first on HousingWire.