U.S. Federal Housing Finance Agency Home Price Index Posts Year-Over-Year Gain in April

The Federal Housing Finance Agency (FHFA) reported on Tuesday that, according to the House Price Index (FHFA HPI®), U.S. house prices increased 3.0% year-over-year in April. On a month-over-month basis, U.S. house prices declined by 0.4%. The previously reported 0.1% price decline for March was revised upward to 0.0%.

Among the nine census divisions, seasonally adjusted monthly home price changes ranged from a decrease of 1.3% in the West South Central and South Atlantic divisions to an increase of 1.2% in the Middle Atlantic division. Over the 12-month period, all divisions posted gains, with increases ranging from 0.5% in the Pacific division to 7.4% in the Middle Atlantic division.