U.S. home prices rose 0.3% on a seasonally adjusted basis from June to July, according to the Federal Housing Finance Agency's (FHFA) monthly House Price Index. The index is calculated using purchase prices of houses backing mortgages bought or guaranteed by Fannie Mae or Freddie Mac.
The previously reported 0.5% increase in June was revised downward to a 0.1% increase. For the 12 months ending in July, U.S. prices fell 4.2%.
The U.S. index is 10.5% below its April 2007 peak.
For the nine Census Divisions, seasonally adjusted monthly price changes from June to July ranged from -0.9% in the East South Central Division to +1.6% in the Pacific Division.