FHFA: Home Prices Rise 0.6 Percent in November

Nationwide, home prices rose 0.6 percent on a seasonally adjusted basis from October to November, according to the Federal Housing Finance Agency’s monthly House Price Index (HPI). The previously reported 0.5 percent increase in October was revised upward to a 0.6 percent increase. For the 12 months ending in November, U.S. prices rose 5.6 percent. The U.S. HPI is 15.2 percent below its April 2007 peak and is roughly the same as the August 2004 index level. National home prices have not declined on a monthly basis since January 2011. For the nine census divisions, seasonally adjusted monthly price changes from October to November ranged from -1.0 percent in the East North Central division to +2.1 percent in the Mountain division, while the 12-month changes ranged from +0.5 percent in the Middle Atlantic division to +14.8 percent in the Mountain division.