FHFA House Price Index Increases Month-Over-Month and Year-Over-Year in October
The Federal Housing Finance Agency (FHFA) reported on Tuesday (12-26-23) that U.S. home prices increased 6.3% year-over-year. The previously reported 0.6% gain in September was revised upwardly to a 0.7% increase. FHFA’s seasonally adjusted monthly index for October was up 0.3% from September.
According to the FHFA report, for the nine census divisions, seasonally adjusted monthly price changes from September 2023 to October 2023 ranged from a 0.3% decline in the New England division to a 1.1% increase in the Middle Atlantic division. The 12-month changes ranged from a 2.6% increase in the Mountain division to a 9.9% rise in the Middle Atlantic division.
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