A house-for-sale sign is seen inside the Washington DC Beltway in Annandale, Virginia January 24, 2016. (Photo: Reuters)
The Federal Housing Finance Agency (FHFA) said Thursday the House Price Index (HPI) rose 0.7 in April, slightly beating the 0.6 median forecast. House prices rose 6.8% during the 12 months proceeding and including April, the strongest reading in 3 years.
For the 9 census divisions, seasonally adjusted monthly price changes from March 2017 to April 2017 ranged from -0.1% in the East South Central division to +1.6% in the West South Central division. The 12-month changes were all positive, ranging from +4.7% in the West North Central division to +8.9% in the Mountain division.
The FHFA monthly HPI is calculated using home sales price information from mortgages sold to, or guaranteed by, Fannie Mae and Freddie Mac.
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