U.S. house prices were unchanged on a seasonally adjusted basis from December to January, according to the Federal Housing Finance Agency’s monthly House Price Index. The previously reported 0.7 percent increase in December was revised downward to reflect a 0.1 percent increase. For the 12 months ending in January, U.S. prices fell 0.8 percent. The U.S. index is 19.2 percent below its April 2007 peak and roughly the same as the February 2004 index level.
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 December to January ranged from -1.7 percent in the West South Central division to +4.7 percent in the West North Central division.
Monthly index values and appreciation rate estimates for recent periods are provided in the table and graphs on the following pages.
The next monthly index release will be on April 24, 2012 and will include HPI data for February 2012. First quarter 2012 HPI data will be released May 23, 2012.
For more information, visit www.FHFA.govv.