12-month price changes across the US were all positive
While house prices increased in February, growth was slower compared to the gains recorded in January, according to the seasonally adjusted monthly House Price Index (HPI) released by the Federal Housing Finance Agency.
The HPI revealed that US house prices rose 0.6% in February from the previous month. This compares to the 0.9% growth recorded in January, which was upwardly revised from the previously reported 0.8% increase.
On a year-over-year basis, house prices increased 7.2% from February 2017. The FHFA uses home sales price information from mortgages sold to, or guaranteed by, Fannie Mae and Freddie Mac to calculate the monthly HPI.
Year-over-year changes for the nine census divisions covered by the HPI were all positive. Increases ranged from 4.8% in the Middle Atlantic division to 10.3% in the Pacific division. Seasonally adjusted price changes from January to February ranged from 0.1% in the West North Central division to 1.6% in the East South Central division.
