The Federal Housing Finance Agency home price index shows that home prices gained 0.8% in November, following a 0.4% rise the month before.

Market expectations were for a 0.3% increase for November. The year-ago rate posted at 5.3% from 4.4% in October.
The FHFA HPI is calculated using home sales price information from mortgages sold to or guaranteed by Fannie Mae and Freddie Mac.

From November 2013 to November 2014, house prices were up 5.3%. The U.S. index is 4.5% below its April 2007 peak and is roughly the same as the October 2005 index level.

For the nine census divisions, seasonally adjusted monthly price changes from October 2014 to November 2014 ranged from -0.9% in the New England division to +1.8% in the East South Central division.

The 12-month changes were all positive, ranging from +1.6% in the New England division to +7.5% in the Pacific division.

The next report on home prices is the Case-Shiller report, released Tuesday, Jan. 27.