U.S. house prices rose in October, up 0.5% on a seasonally adjusted basis from the previous month, according to the Federal Housing Finance Agency monthly House Price Index (HPI). The previously reported 0.8% increase in September was revised downward to reflect a 0.7% increase.
The FHFA HPI is calculated using home sales price information from mortgages sold to, or guaranteed by, Fannie Mae and Freddie Mac.
From October 2014 to October 2015, house prices were up 6.1%.
And, according to the latest report from the National Association of Realtors, TRID closing delays helped to considerably slow down existing-home sales in the month of November.
According to NAR’s latest report, the total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, fell 10.5% to a seasonally adjusted annual rate of 4.76 million in November.
Existing-home sales cooled to the slowest pace in 19 months during November, NAR’s report showed, to the lowest seasonally adjusted annual rate since April 2014 when it was 4.75 million.