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

The Federal Housing Finance Agency (FHFA) reported on Tuesday (9-26-23) its US House Price Index (HPI®) for July. According to the HPI, in July, house prices rose 0.8% month-over-month, seasonally adjusted. Year-over-year, prices rose 4.6%. The previously reported 0.3% increase in June has been revised upward to a 0.4% increase.

For the nine census divisions, seasonally adjusted monthly price changes from June to July ranged from a 0.1% increase in the East South Central division to a 1.4% increase in the Middle Atlantic and South Atlantic divisions. The 12-month changes ranged from a 0.3% increase in the Mountain division to an 8.1% increase in the New England division.

In remarks prepared for the release of the report, Nataliya Polkovnichenko, Supervisory Economist in FHFA’s Division of Research and Statistics, said:

“US house prices continued to appreciate in July, consistent with the trend observed over the last several months. Regionally, all nine census divisions posted positive price appreciation over the last 12 months, although the Pacific and Mountain divisions experienced only modest growth.”