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The Federal Housing Finance Agency reported a 1.5% month-over-month increase in the House Price Index in October 2020 and a 10.2% increase year-over-year.
“U.S. house prices rose for the fifth straight month since states re-opened their local economies,” said Dr. Lynn Fisher, FHFA’s deputy director of the Division of Research and Statistics. “The 12-month gain of 10.2% in October is the highest annual appreciation observed since the 2004-2005 period. Extremely low mortgage rates and a limited supply of homes for sale continue to propel price gains. The data does not yet reflect renewals of some local and state COVID-19 restrictions.”
In the nine census regions, both the Mountain and New England both saw the largest year-over-year increases in house prices at 12.5%. The Pacific region followed at 10.6%, with the Middle Atlantic region coming in at 10.4%.
Click here to read more from the FHFA's House Price Index.
