FHFA House Price Index Rises 2.3% Year-Over-Year in July

On Tuesday, the Federal Housing Finance Agency (FHFA) reported that its House Price Index (HPI) fell 0.1% month-over-month in July, following a revised 0.2% decline in June. Year-over-year, the index rose 2.3%.

By census division, seasonally adjusted monthly price changes ranged from a 1.2% decline in the Middle Atlantic to a 0.3% increase in the East North Central. Over the past 12 months, gains were recorded in all nine divisions, from 0.2% in the Pacific to 5.1% in the Middle Atlantic.

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.