FHFA: Home prices still on the rise

House prices rose nationwide in April, up 1.6% from March, according to the latest FHFA House Price Index.

House prices rose 18.8% from April 2021 to April 2022, while the previously reported 1.5% price change for March 2022 was revised upward to 1.6 percent, according to the FHFA.

For the nine census divisions, seasonally adjusted monthly house price changes from March 2022 to April 2022 ranged from +0.3 percent in the East South Central division to +2.5 percent in the West South Central division. The 12-month changes were all positive, ranging from +14.1 percent in the Middle Atlantic division to +23.5 percent in the South Atlantic division, according to the FHFA.

“House price appreciation continues to remain elevated in April,” said Will Doerner, supervisory economist in FHFA’s Division of Research and Statistics. “The inventory of homes on the market remains low, which has continued to keep upward pressure on sales prices. Increasing mortgage rates have yet to offset demand enough to deter the strong price gains happening across the country.”

The FHFA releases house price index data and reports on a quarterly and monthly basis using nominal, seasonally adjusted, purchase-only data from Fannie Mae and Freddie Mac. Additional indexes use other data including refinances, FHA mortgages, and real property records. All the indexes, including their historic values, and information about future HPI release dates are available on the FHFA website

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