Home Prices Rise .3%; Less than Analysts Forecasts

US home prices rose .3% in July from the previous month, less than the .5% increase forecast by analysts.

US home prices rose .3% in July from the previous month according to the Federal Housing Finance Agency (the group that regulates Fannie Mae and Freddie Mac) , less than the .5% increase forecast by analysts. In addiiton, the previously reported .5% gain for June was revised downward to .1%. Year-over-year the index fell 4.2%. That's the smallest year-over-year decline this year. While the data suggests and the housing price decline is bottoming, after a 28% nationwide fall, a rebound seems like a remote reality in the face of near 10% unemployment. 

Regions that showed price increases include:

Pacific                                             1.3%

Mountain:                                         .3%

West North Central:                       .3%

Middle Atlantic                               1.0%

South Atlantic                                  .6%

Regions that saw price declines include:

West South Central                       -.2%

East North Central                        -.3%

East South Central                      -.9%

New England                               -.01

This press release from the FHFA provides some good graphs and other information for those who wish to examine the trends in sales and housing prices. Note that this is not totally comprehensive data but represent housing whose mortgages have been sold to or guaranteed by Fannie Mae or Freddie Mac. These represent the majority of conforming (non jumbo) loans.

View today's mortgage rates and mortgage refinance rates.

Sam Cass
Sam Cass: Sam Cass, MBA, JD, University of Texas at Austin. Always a fan of Leonardo Da Vinci.

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