According to the latest Federal Housing Finance Agency (FHFA) House Price Index (HPI®), released today (11-29-22), US home prices rose 12.4% from 2021Q3 to 2022Q3. House prices were up 0.1% when compared to 2022Q2.
The FHFA’s seasonally adjusted monthly index for September was up 0.1% from August.
According to the HPI for the nine census divisions, the South Atlantic division recorded the strongest four-quarter appreciation, posting a 17.0% gain between 2021Q3 and 2022Q3. Annual house price appreciation was the weakest in the Pacific division, where prices rose by 8.3% from a year earlier.
In remarks prepared for the release of the HPI report, Will Doerner, Ph.D., Supervisory Economist in FHFA’s Division of Research and Statistics, said:
“House prices were flat for the third quarter but continued to remain above levels from a year ago. The rate of US house price growth has substantially decelerated. This deceleration is widespread with about one-third of all states and metropolitan statistical areas registering annual growth below 10 percent.”
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.