Home >> Daily Dose >> FHFA Price Index Flat in April
Print This Post Print This Post

FHFA Price Index Flat in April

cash-moneyThe Federal Housing Finance Agency (FHFA) released its latest home price measure this week, reinforcing a theme of slowing increases reported in similar gauges.

According to the agency, home prices showed no change month-over-month in April, down from an increase of 0.7 percent the month prior.

FHFA's index compares to the latest S&P/Case-Shiller Indices, which showed a monthly price increase of 1.1 percent among the nation's top 20 markets. Also released earlier in the week was Black Knight Financial Services' Home Price Index, which found prices were up 0.9 percent over the month.

Because FHFA's measure uses information from mortgages sold to or guaranteed by Fannie Mae and Freddie Mac, it excludes high-end jumbo sales and loans insured by the Federal Housing Administration and is often thought of as a more accurate gauge of "middle-class" home prices.

Of the nine census divisions, FHFA reports seasonally adjusted monthly price changes range from -1.3 percent in the New England division to a small 0.6 percent gain in the East South Central division. Four of the nine divisions posted declines from March.

Year-over-year, changes were positive in all divisions, ranging from 1.7 percent in the Middle Atlantic to 10.7 percent in the Pacific.

Overall, FHFA reported a 5.9 percent pickup in its index year-on-year, putting it down 6.9 percent from its April 2007 peak.

x

Check Also

Home Price Appreciation Projected to Slow by May 2023

New research from CoreLogic revealed year-over-year home price growth dropped slightly from April but still posted an estimated 20% increase in May. Meanwhile, experts project annual U.S. home price appreciation to slow next year, but by how much?

Subscribe to MDaily

MReport is here for you to stay on top of important developments in the mortgage marketplace. To begin receiving each day’s top news, market information, and breaking news updates, absolutely free of cost, simply enter your email address below.