U.S. home prices increased 0.3% in October compared with September and were up 6.3% compared with October 2022, according to the Federal Housing Finance Agency’s (FHFA) home price index.
The previously reported 0.6% increase in September was revised to a 0.7% increase, the agency notes.
Regionally, and month over month, price changes ranged from -0.3% in the New England division to +1.1% in the Middle Atlantic division.
Year over year, changes ranged from +2.6% in the Mountain division to +9.9% in the Middle Atlantic division.
“U.S. house price gains remained strong over the last 12 months,” says Nataliya Polkovnichenko, supervisory economist in FHFA’s Division of Research and Statistics. “On a monthly basis, price appreciation moderated in October, with four divisions exhibiting slowdowns from the previous month.”
Photo: Max Harlynking