In the third quarter of 2018, home prices rose 1.3 percent, according to the Federal Housing Finance Agency’s (FHFA) recently released House Price Index (HPI). The HPI year-over-year was up 6.3 percent.
“Home prices continued to rise in the third quarter but their upward pace is slowing somewhat,” says Dr. William Doerner, FHFA supervisory economist. “Rising mortgage rates have cooled down housing markets—several regions and over two-thirds of states are showing slower annual gains.”
Per the Index, annual appreciation ranged from 8.9 percent in the Mountain Census division to less than 5 percent in the Middle Atlantic, New England and West South Central regions.
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