FHFA Home Price Index Rises 0.6% in July

By Paul Ausick Updated Apr 27, 9:20PM EDT · Published Sep 22, 10:35AM EDT

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The Federal Housing Finance Agency (FHFA) reported Tuesday morning that U.S. home prices rose 0.6% month over month in July. Compared with July 2014, the house price index has gained 5.8%. The 0.2% index increase reported for June was unchanged.

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. The index remains 1.1% below its March 2007 peak and is roughly equivalent to its level in November 2006.

The consensus estimate for July called for an increase in a range of 0.4%.

Over the past 12 months, gains have been greatest in the Mountain states, up 9.4%, and the least in the New England states, which are up 2.1%. Year over year, the index rose in all nine Census Bureau divisions.

Home prices posted month-over-month gains in seven Census Bureau divisions and declines in two: New England (down 1.2%) and East North Central (down 0.1%). The Mountain region posted the largest month-over-month price gain (up 1.6%), followed by the West North Central region (up 1.2%), the Middle Atlantic region (up 1.0%), the East South Central region (up 0.8%), the Pacific and West South Central regions (up 0.7%) and the South Atlantic region (up 0.4%).

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About the Author Paul Ausick →

Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.