FHFA House Price Index Increased Month-Over-Month and Year-Over-Year in August

The Federal Housing Finance Agency (FHFA) reported on Tuesday (10-31-23) its House Price Index (HPI®) for August. According to the HPI, US house prices increased 0.6% month-over-month in August, seasonally adjusted. Year-over-year, home prices rose 5.6%. The previously reported 0.8% increase in July remained unchanged.

For the nine census divisions, seasonally adjusted monthly price changes from July to August ranged from a 0.2% decline in the South Atlantic division to a 1.1% increase in the Pacific and East North Central divisions. The 12-month change ranged from 2.4% in the Mountain division to an 8.6% increase in the Middle Atlantic division.

In remarks accompanying the report, Supervisory Economist in FHFA’s Division of Research and Statistics Dr. Nataliya Polkovnichenko said:

“US and regional house price gains remained strong over the last 12 months. The South Atlantic division showed moderate weakness in August, while the remaining census divisions posted positive price appreciation from the previous month.”