U.S. Monthly House Price Index Estimates 0.7% Increase from January to February

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U.S. Monthly House Price Index Estimates 0.7% Increase from January to February

RISMEDIA, April 24, 2009-U.S. home prices rose 0.7% on a seasonally adjusted basis from January 2009 to February 2009, according to the Federal Housing Finance Agency’s monthly House Price Index. January’s previously reported 1.7% increase was revised to a 1.0% increase. For the 12 months ending in February, U.S. prices fell 6.5%. The U.S. index is 9.5% below its April 2007 peak.

The FHFA monthly index is calculated using purchase prices of houses backing mortgages that have been sold to or guaranteed by Fannie Mae or Freddie Mac. For the nine Census Divisions, seasonally-adjusted monthly price changes from January to February ranged from -1.2% in the East North Central Division to +3.8% in the Pacific Division.

For more information, visit www.fhfa.gov.

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