US FHFA House Price Index Rises 0.4% in August

On Tuesday, the Federal Housing Finance Agency (FHFA) reported that its House Price Index (HPI) rose 0.4% month-over-month in August on a seasonally adjusted basis. Year-over-year, the index increased 2.3%. The previously reported 0.1% price decline in July was revised to 0.0%.

Among the nine census divisions, monthly price changes ranged from a 0.8% decline in the Pacific division to a 1.2% increase in the Middle Atlantic division. Over the past 12 months, changes ranged from a 0.6% decrease in the Pacific division to a 6.3% increase in the Middle Atlantic division.

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.