House prices were relatively flat for October, up a mere 0.6% on a seasonally adjusted basis from the previous month, according to the Federal Housing Finance Agency monthly House Price Index.

This comes on the heels of the previously reported house price change of 0.0% in September, which remained unchanged.

The FHFA HPI is calculated using home sales price information from mortgages sold to or guaranteed by Fannie Mae and Freddie Mac.

From October 2013 to October 2014, house prices were up 4.5%.

The U.S. index is 5.1% below its April 2007 peak and is roughly the same as the September 2005 index level.

The year-ago rate firmed to 4.5% from 4.4% in September. September fell well short of market expectations for a 0.4% boost. The year-ago rate softened to 4.3% from 4.7% in August.

Regionally, six Census regions reported gains in October while three declined.