Home prices rose 0.8 percent month-over-month in January, according to the Federal Housing Finance Agency’s (FHFA) recently released House Price Index (HPI). The HPI year-over-year—based on prices for homes with Fannie Mae- or Freddie Mac-backed mortgages—was up 7.3 percent.
Per the Index, month-over-month home price changes ranged from -0.7 percent in the West South Central Census division to +1.2 percent in the New England and Pacific divisions. Home price changes year-over-year ranged from +5.1 percent in the West South Central Census division to +10 percent in the Mountain division.
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