The Federal Housing Finance Agency (FHFA) House Price Index (HPI) rose 1.6% in the fourth quarter (4Q) of 2017 and house prices were up 6.7% from 4Q 2016 to 4Q 2017. FHFA’s seasonally adjusted monthly index for December was up 0.3% from November, juxtaposed to a 0.6% median forecast.
The HPI is calculated using home sales price information from mortgages sold to, or guaranteed by, Fannie Mae and Freddie Mac. Worth noting, in a rare exception to the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index also released Tuesday, the West showed slightly less strength in the HPI. Meanwhile, the Mountain and Pacific regions took the lead in gains.
“The fourth quarter showed absolutely no letup in the remarkable pace of home price appreciation through the country, “said Andrew Leventis, Deputy Chief Economist. “As we begin to track home prices in the first quarter, we will be interested to see whether new headwinds—higher mortgage rates and changes in tax laws—will lead to any moderation in the rate of price growth.”
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Buy real estate!!! I expect prices to dip in DC—due to an ⬆️ in inventory in late 2018