U.S. house prices rose in October, up 0.6 percent on a seasonally adjusted basis from the previous month, according to the Federal Housing Finance Agency (FHFA) monthly House Price Index (HPI). The previously reported house price change of 0.0 percent in September remained unchanged.
The FHFA HPI is calculated using home sales price information from mortgages sold to or guaranteed by Fannie Mae and Freddie Mac. From October 2013 to October 2014, house prices were up 4.5 percent. The U.S. index is 5.1 percent below its April 2007 peak and is roughly the same as the September 2005 index level.
For the nine census divisions, seasonally adjusted monthly price changes from September 2014 to October 2014 ranged from -0.3 percent in the Pacific division to +1.5 percent in the South Atlantic division. The 12-month changes were all positive, ranging from +0.8 percent in the Middle Atlantic division to +6.0 percent in the Pacific division.
To read the complete report at FHFA.gov, click here.
The Home Builders Association of Greenville are your neighbors and community leaders providing education and support for building industry professionals. We create jobs, encourage homeownership, and promote responsible growth throughout the upstate of South Carolina.
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