Inman News
Home prices are rising but not as fast as earlier this year, according to the Federal Housing Finance Agency.
U.S. home prices rose 0.4 percent from March to April, according to the Federal Housing Finance Agency’s monthly House Price Index (HPI) released on Tuesday. The HPI is also up 5.2 percent from 2018 to 2019.
Home prices are rising but not as fast as earlier this year, falling from February when the HPI was up 0.6 percent.
FHFA
Nationwide, only the West North Central and Middle Atlantic divisions saw a 0.6 percent and 0.1 percent drop in home prices, respectively. All other regions saw gains — from 1.2 percent in the Mountain division to 0.1 percent in the South Atlantic division.
Earlier Tuesday, Case Shiller released its own home price report, which showed slowing annual price growth. Prices in the U.S. grew at a 3.7 percent annual rate in March, down from the previous month’s 3.9 percent and the slowest in seven years, according to the latest S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index.
FHFA’s HPI is a weighted, repeat-sales index, that uses average price changes in repeat sales or refinancings on the same properties, whereas Case Shiller’s home price index tracks changes in the value of residential real estate nationally.