July FHFA House Price Index up 0.1%
In the South Atlantic division, which includes Florida, home prices rose 3.6% in July, according to the FHFA's seasonally adjusted monthly House Price Index.
WASHINGTON – U.S. house prices rose 0.1% in July, according to the Federal Housing Finance Agency's (FHFA) seasonally adjusted monthly House Price Index. House prices rose 4.5% from July 2023 to July 2024. The previously reported 0.1% price decrease in June was revised upward to 0.0%.
For the nine census divisions, seasonally adjusted monthly price changes from June 2024 to July 2024 ranged from -0.7% in the South Atlantic division to +0.9% in the East North Central and New England divisions. The 12-month changes were all positive, ranging from +1.6% in the West South Central division to +7.5% in the East North Central division. The South Atlantic division, which includes Florida, saw a + 3.6% change.
“For the third consecutive month U.S. house prices showed little movement,” said Dr. Anju Vajja, Deputy Director for FHFA’s Division of Research and Statistics. “Gradually declining mortgage rates and relatively flat house prices may improve housing affordability.”
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. FHFA uses a fully transparent methodology based upon a weighted, repeat-sales statistical technique to analyze house price transaction data.
Source: Federal Housing Finance Agency
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