Washington, D.C. – U.S. house prices declined 1.6 percent on a seasonally adjusted basis from January to February, according to the Federal Housing Finance Agency’s monthly House Price Index. The previously reported 0.3 percent decrease in January was revised to a 1.0 percent decrease. For the 12 months ending in February, U.S. prices fell 5.7 percent. The U.S. index is 18.6 percent below its April 2007 peak and roughly the same as the February 2004 index level.
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 January to February ranged from -3.7 percent in the Mountain Division to -0.6 percent in the East South Central Division.
Monthly index values and appreciation rate estimates for recent periods are provided in the table and graphs on the following pages. Click here for complete historical data.
For detailed information concerning the monthly HPI, please see the HPI Frequently Asked Questions (FAQ). The next release will be on May 25, 2011 and will include monthly HPI data for March 2011 and quarterly HPI data for the first quarter of 2011.
Corinne Russell (202) 649-3032 / Stefanie Johnson (202) 649-3030