Real Estate Market Going Up Concept Illustration. (Photo: AdobeStock)
The Federal Housing Finance Agency (FHFA) House Price Index (HPI) finds U.S. house prices rose 1.1% in the fourth quarter (Q4) of 2018, and 5.7% from Q4 2017.
FHFA’s seasonally adjusted monthly index for December was up 0.3% from November. That is slightly lower than the 0.4% consensus forecast.
Forecasts for the month ranged from a low of 0.3% to a high of 0.5%. Nevertheless, as was present in the S&P CoreLogic Case-Shiller HPI also out this morning, appreciation in home prices moderated toward the end of 2018.
The HPI is calculated using home sales price information from mortgages sold to, or guaranteed by, Fannie Mae and Freddie Mac.
“House prices rose throughout 2018 but at a slower rate than in recent years,” said Dr. William Doerner, Supervisory Economist. “In the fourth quarter, house price appreciation hit one of the lowest levels in the past four years.”
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