U.S. Home Prices Decline -0.3% in May 2020

The Federal Housing Finance Agency (FHFA), Home Price Index (HPI) reports that U.S. house prices decline in May by -0.3% from the previous month. Year-over-year, house prices are 4.9% higher, (May 2019 to May 2020). The previously reported 0.2% increase for April 2020, was revised downward to 0.1%. For the nine census divisions, seasonally adjusted monthly house price changes from April 2020 to May 2020 ranged from –1.0 percent in the New England division to +0.1 percent in the South Atlantic division. The 12-month changes were all positive, ranging from +3.7 percent in the New England division to +6.3 percent in the Mountain division.