FHFA House Price Index Climbs in July
On Tuesday, the Federal Housing Finance Agency (FHFA) reported that its House Price Index (HPI) rose 0.3% month-over-month in July, following an unrevised 0.0% reading in June. Year-over-year, the index was up 2.6%.
For the nine census divisions, seasonally adjusted monthly price changes ranged from a 0.8% decline in the Mountain division to a 1.5% increase in the Middle Atlantic division. The 12-month changes were all positive, ranging from 0.6% in the Mountain division to 6.3% in the Middle Atlantic division.
The HPI is a comprehensive collection of publicly available house price indexes that measure changes in single-family home values. FHFA uses a weighted, repeat-sales statistical technique to analyze house price transaction data.
FEA compiles the Wood Markets News from various 3rd party sources to provide readers with the latest news impacting forest product markets. Opinions or views expressed in these articles do not necessarily represent those of FEA.