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The Federal Housing Finance Agency (FHFA) said its
November Housing Price Index recorded an 0.4 percent gain compared to
October. The October increase,
previously reported at 0.3 percent, was revised to 0.4 percent as well.
FHFA numbers, which are calculated from sales price
information for homes financed with mortgages sold to or guaranteed by the GSEs
Fannie Mae and Freddie Mac, appear to be moving counter to other indices which
have shown price growth moderating. With
the exception of September, when it was 0.2 percent, FHFA’s monthly number has
held steady at 0.4 percent since last May.
Home prices rose by 5.8 percent from November 2017 to
November 2018. The annual gain in the
HPI in October was 5.7 percent.
The Pacific division posted the lowest monthly number of any of the nine census
divisions, a seasonally adjusted -0.8 percent.
That division has posted negative numbers in two of the previous three
months. The East North and the West
North Central divisions also posted declines, 0.2 and 0.1 percent respectively.
The highest monthly return was 1.1 percent in the South Atlantic division.
The Middle Atlantic was up 1.0 percent.
The 12-month changes were all positive, ranging from +4.5 percent in the
West South Central division to +7.4 percent in the Mountain division.
The FHFA HPI was indexed at 100 in January 1991. The November
index for the nation was 269.2