FHFA April Price Index Up 3.1% Year-to-Year
Month-to-month, prices rose 0.7% nationally – though it ranged from a price drop of 3.8% in the Pacific region to an increase of 6.1% in the East South Central region.
WASHINGTON – U.S. house prices rose in April, up 0.7% from March, according to the Federal Housing Finance Agency (FHFA) seasonally adjusted monthly House Price Index (HPI), which tracks all U.S. mortgages under government-sponsored enterprises, notably Fannie Mae and Freddie Mac.
Year-to-year, house prices rose 3.1% in April 2023. A previously reported 0.6% increase for March was revised downward to 0.5%.
For the nine census divisions, seasonally adjusted monthly price changes from March 2023 to April 2023 ranged from +0.1% in the Pacific division to +2.4% in the New England division. The 12-month changes ranged from -3.8% in the Pacific division to +6.1% in the East South Central division.
“U.S. house prices generally increased moderately in April,” says Dr. Nataliya Polkovnichenko, Supervisory Economist in FHFA’s Division of Research and Statistics. “However, on a year-over-year basis, house prices in some regions of the country continued to decline.”
The FHFA HPI is a comprehensive collection of publicly available house price indexes that measure changes in single-family home values based on data that extend back to the mid-1970s from all 50 states and over 400 American cities. It incorporates tens of millions of home sales and offers insights about house price changes at the national, census division, state, metro area, county, ZIP code, and census tract levels.
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