FHFA: July House Price Index Up 0.6 Percent

U.S. house prices rose by 0.6 percent in July on a seasonally adjusted basis from the June, the Federal Housing Finance Agency said yesterday.  

The FHFA monthly House Price Index, calculated using home sales price information from mortgages sold to, or guaranteed by, Fannie Mae and Freddie Mac, was unchanged at 0.2 percent from May to June. On a year over year basis, house prices rose by 5.8 percent. The U.S. index is 1.1 percent below its March 2007 peak and is same as the November 2006 index level.   

For the nine census divisions, seasonally adjusted monthly price changes year over year ranged from -1.2 percent in the New England division to +1.6 percent in the Mountain division. Twelve-month changes were all positive, ranging from +2.1 percent in the New England division to +9.4 percent in the Mountain division.