Washington, D.C. – U.S. house prices rose 0.6 percent on a seasonally adjusted basis from September to October, according to the Federal Housing Finance Agency’s monthly House Price Index. The previously reported 0.0 (zero) percent change in September was revised to a 0.4 percent decline. For the 12 months ending in October, U.S. prices fell 1.9 percent. The U.S. index is 10.8 percent below its April 2007 peak.
The FHFA monthly index is calculated using purchase prices of houses backing mortgages that have been sold to or guaranteed by Fannie Mae or Freddie Mac. For the nine Census Divisions, seasonally adjusted monthly price changes from September to October ranged from -1.1 percent in the South Atlantic Division to +3.7 percent in the Pacific Division.
Monthly index values and appreciation rate estimates are provided in the table and graph on the following pages. As with FHFA’s quarterly HPI, the estimates will be revised as new data become available. Quarterly HPI reports include updated monthly data presented in the same format as the attached table.
For detailed information concerning the monthly HPI, please see the HPI Frequently Asked Questions (FAQ). The next release will be on Jan. 26, 2010 and will include monthly data for November. The next release of quarterly data will be on Feb. 25, 2010 and will include monthly data for December and quarterly data for the fourth quarter of 2009.
Corinne Russell (202) 649-3032 / Stefanie Johnson (202) 649-3030