12-month price changes in all census divisions remain positive
House prices in the US continued to rise at a steady pace in January, according to the Federal Housing Finance Agency (FHFA).
FHFA's House Price Index (HPI) edged up 0.3% month over month, a slowdown from the reported 0.7% growth in December. House prices were also 5.2% higher than they were in January of 2019.
“Transactions in January were unlikely to reflect much if any, influence from the COVID-19 outbreak,” according to Lynn Fisher, deputy director of the division of research and statistics at FHFA. “House prices in the Pacific and South Atlantic regions grew somewhat faster over the year ending in January 2020 than observed the same time a year ago.”
Monthly house price changes for the nine census divisions ranged from a seasonally adjusted -0.2% in the Mountain division to +0.7% in the South Atlantic divisions.
Meanwhile, the Middle Atlantic and South Atlantic divisions saw positive annual changes, up 4.1% and 6.4%, respectively.
