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FHFA: Home prices increase in October

house-pile-of-money

But South Atlantic division retreated 0.6%.

Home prices rose in October, inching forward 0.3% from September, and rising 5.7% from the same time last year, 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.

According to FHFA, across the nine Census divisions, the South Atlantic division retreated 0.6% from September and the Pacific division grew 1.4% month-over-month.

Notably, 12-month prices saw an increase across all U.S. divisions, ranging from 3.3% in the Middle Atlantic division to 8.5% in the Mountain division.

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

FHFA-October-2018

These are the states in each Census division mentioned:

South Atlantic: Delaware, Maryland, District of Columbia, Virginia, West Virginia, North Carolina, South Carolina, Georgia, Florida

Pacific: Hawaii, Alaska, Washington, Oregon, California

Middle Atlantic: New York, New Jersey, Pennsylvania

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

Source: Housing Wire

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