Home prices rose 1.6 percent in the fourth quarter of 2017, according to the Federal Housing Finance Agency’s (FHFA) House Price Index (HPI). The HPI year-over-year—based on prices for homes with Fannie Mae- and Freddie Mac-backed mortgages—was up 6.7 percent.
“Home price appreciation in the fourth quarter showed absolutely no let-up throughout the U.S.,” said Andrew Leventis, deputy chief economist at the FHFA, in a statement. “As we begin to evaluate home prices in the first quarter, we will monitor whether new headwinds—higher mortgage rates and changes in tax laws—will lead to any moderation in the rate of house price growth.”
Per the Index, annual appreciation ranged from 8.8 percent in the Mountain Census division to 5.3 percent in the Middle Atlantic Census division.
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