Home prices experienced a slight uptick in January and rose 0.5% from last month, according to the Federal Housing Finance Agency’s January house price index.

So this means FHFA home price reports come in rosier than Case-Shiller. Why? For one, the FHFA only looks at Fannie Mae and Freddie Mac sales.

This marks the 23rd increase over the past 24 months, beginning in February 2012.

The December HPI was revised downward to reflect a .7% increase.

In addition, from January 2013 to January 2014, house prices were up 7.4%.

The U.S. index is 8% below its April 2007 peak and is roughly the same as the May 2005 index level.

Broken up across the country, the nine census divisions seasonally adjusted monthly price changes from December 2013 to January 2014 ranged from -0.3% in the West South Central division to 1.3% in the Middle Atlantic division.

Plus, the 12-month changes were all positive ranging from 3.2% in the Middle Atlantic division to 14.0% in the Pacific division. 

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