House Prices Rise in First Quarter

Washington, DC, May 23, 2012 -- U.S. house prices rose modestly in the first quarter of 2012, according to the Federal Housing Finance Agency.

The agency's index was up 0.6% on a seasonally adjusted basis since the fourth quarter of 2011.

The index is calculated using home sales price information from Fannie
Mae and Freddie Mac mortgages.

Seasonally adjusted house prices rose 0.5% from the first quarter of 2011 to the first quarter of 2012.

FHFA’s seasonally adjusted monthly index for March was up 1.8% from February.
 
“Consistent with other housing market indicators, the FHFA HPI showed stronger house prices in the first quarter, most notably in March,” said FHFA Principal Economist Andrew Leventis.
 
“Increased affordability and a somewhat smaller inventory of homes for sale are positively impacting house prices.”