The FHFA monthly index is calculated using purchase prices of houses with mortgages that have been sold to or guaranteed by Fannie Mae or Freddie Mac.
Home prices are recovering fastest in the Pacific states, which saw a price hike of 15.3%, compared with February 2012. Over the past 12 months, home prices are up in every region of the country.
The good news on house prices — for sellers — is that they continue to rise in all regions of the country. The good news for buyers is that housing prices are still 13.6% below the 2007 peak and mortgage loan rates are very low. The purchase price index for February is roughly equal to the index level in October 2004.
Sponsored: Tips for Investing
A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.