U.S. house prices rose in August, up 0.7% from the previous month, according to the Federal Housing Finance Agency (FHFA) seasonally adjusted monthly House Price Index (HPI). Analysts were expecting a gain of 0.4%. The previously reported 0.2% increase in July was revised upward to 0.4%.
The FHFA monthly HPI is calculated using home sales price information from mortgages sold to, or guaranteed by, Fannie Mae and Freddie Mac. From August 2016 to August 2017, house prices were up 6.6%.
For the nine census divisions, seasonally adjusted monthly price changes from July 2017 to August 2017 ranged from -0.1% in the New England division to +1.4% in the Pacific division. The 12-month changes were all positive, ranging from +5.0% in the Middle Atlantic division to +9.3% in the Pacific division.
