3 reasons why California housing is about to go bust

Here's where expert economists think housing is going

Where will we be in 2019?

Washington is protecting buyers right out of homeownership

BPC Housing Commissioner: Give borrowers a chance to fail
W S

Home prices maintain upward trajectory

Home prices in the U.S. rose 0.6% from October to November, according to the Federal Housing Finance Agency’s latest house price index. This compares to the index's 0.5% increase in October.

An even sharper increase in home prices occurred for the 12-month period ending in November, with prices rising 5.6%, the highest level since the bubble days of 2006.

For the nine census divisions, seasonally adjusted monthly price changes from October to November, ranged from a 1% drop in the East North Central division to a 2.1% increase in the Mountain division.

The index peaked at 15.2% in April 2007. U.S. home prices have not declined on a monthly basis since January 2011.

The monthly house price index uses the purchase price of houses with mortgages owned or guaranteed by Fannie Mae or Freddie Mac.

"Today's report is a reminder that a rise in home prices is widely expected to be a highlight of the 2013 economy," noted Econoday. "Next data on home prices will be in Friday's new home sales report where year-on-year readings, though volatile, have been especially strong, in the mid-teens."

Click on the graph to view the FHFA history of HPI.

mhopkins@housingwire.com

Recent Articles by Megan Hopkins

Comments powered by Disqus