Mortgage lenders and real estate agents flood the housing market. (Phone: Peter Macdiarmid/Getty Images)
The FHFA seasonally adjusted monthly House Price Index (HPI) was flat in January, but showed house prices were up 5.6% year-over-year. The FHFA monthly HPI gauges home sales price information from mortgages sold to, or guaranteed by, Fannie Mae and Freddie Mac.
This information is obtained by reviewing repeat mortgage transactions on single-family properties whose mortgages have been purchased or securitized by Fannie Mae or Freddie Mac since January 1975.
For the nine census divisions, seasonally adjusted monthly price changes from December 2016 to January 2017 ranged from -2.0% in the East South Central division to +0.6 percent in the Pacific division. The 12-month changes were all positive, ranging from +3.5% in the East South Central division to +8.3% in the Mountain division.
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