U.S. home prices increased 0.5% on an adjusted basis in November compared with October and increased 5.9% compared with November 2014, according to estimates released by the Federal Housing Finance Agency (FHFA).
The FHFA notes that the index levels in October and November exceeded the prior peak level recorded in March 2007.
The FHFA’s home price index report breaks down home price appreciation by the nine census divisions. Of those, the West South Central division saw the least appreciation – in fact, prices in that division decreased 0.4% relative to October. The Mountain division, meanwhile, saw prices increase 1.8%.
Year over year, all nine divisions posted increases; the Mountain division posted the largest increase at 10.0%, while the Middle Atlantic division saw prices increase 2.6%
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