Home Prices Rose 1.1% in Q2, Says FHFA
Washington, DC, August 23, 2018-U.S. house prices rose 1.1% in the second quarter of 2018, according to the Federal Housing Finance Agency (FHFA) House Price Index (HPI).
House prices rose 6.5% from the second quarter of 2017 to the second quarter of 2018. FHFA’s seasonally adjusted monthly index for June was up 0.2% from May.
The HPI is calculated using home sales price information from mortgages sold to, or guaranteed by, Fannie Mae and Freddie Mac.
“Home prices rose in the second quarter but at a slower pace than we have seen for the past four years,” said Dr. William Doerner, supervisory economist. “Mortgage rates have increased by more than half a percentage point over the first six months of the year. Rates are still inexpensive from a historical standpoint, but their bump-up appears to have gently pressed the brakes on house price increases.”