FHFA Home Price Index Ticked Higher in April

By Paul Ausick Updated Jan 13, 6:31AM EST · Published Jun 22, 10:10AM EDT

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FHFA Home Price Index Ticked Higher in April — © Thinkstock

The Federal Housing Finance Agency (FHFA) reported Wednesday morning that U.S. home prices rose 0.2% year over year in April. Compared with April 2015, the inflation-adjusted home price has gained 5.9%. Home prices rose 0.8% sequentially in March.

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 consensus estimate for April called for a month-over-month increase of 0.6%.

Over the past 12 months, gains have been greatest in the Pacific states, up 8.6%, and least in the Middle Atlantic states, where prices are up 1.7%. The year-over-year index rose in all nine Census Bureau divisions in April.

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Home prices posted month-over-month gains in seven of nine Census Bureau divisions. Only the Middle Atlantic (down 0.7%) and Mountain (down 0.3%) regions showed a decline. The New England region posted the largest month-over-month price gain, up 1.4%; the West North Central region gained 0.9%; the South Atlantic region gained 0.6%; the Pacific region posted a gain of 0.4%; the East South Central division added 0.3%; the East North Central region rose 0.1%; and the West South Central region remained unchanged.

Across the United States, home prices rose 5.9% year over year from April 2015.

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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.