The Federal Housing Finance Agency [1] (FHFA) will release its monthly House Price Index [2] on Tuesday, July 24 at 9 a.m. EST. The FHFA House Price Index (HPI) is a broad measure of the movement of single-family house prices. It measures average price changes in repeat sales or refinancings on the same properties. The information for measuring the HPI is obtained by reviewing repeat mortgage transactions on single-family properties whose mortgages have been purchased or securitized by Fannie Mae or Freddie Mac since January 1975.
The HPI includes house price is calculated for the nine Census Bureau divisions, for the 50 states and the District of Columbia, as well as their Metropolitan Statistical Areas (MSAs) and divisions.
While the upcoming data will be released for May, the HPI for April indicated that U.S. house prices rose 0.1 percent from the previous month. Year over year, the index rose 6.4 percent. For the nine census divisions, seasonally adjusted monthly price changes from March 2018 to April 2018 ranged from a decrease of 0.5 percent in the West South Central division to an increase of 0.6 percent in the East North Central division. The 12-month changes were all positive, ranging from an increase of 4.6 percent in the West South Central division to 8.9 percent in the Mountain division.
Here's what else is happening in The Week Ahead:
- NAR Existing Home Sales, Monday, 10 a.m. ET
- Disaster Preparedness Summit, Wednesday, 9 a.m. CT
- MBA Mortgage Applications, Wednesday, 7 a.m. ET
- New Home Sales Report, Wednesday, 10 a.m. ET
- Freddie Mac Mortgage Rates, Thursday, 9 a.m. ET
- GDP, Friday, 8:30 a.m. ET
Learn more about housing trends: