FHFA: Home Prices Rose 2.1% In Second Quarter

U.S. home prices rose 2.1% in the second quarter compared to the first quarter – the eighth consecutive quarterly increase – and were up 7.2%, on an adjusted basis, compared to the second quarter of 2012, the Federal Housing Finance Agency (FHFA) reported Thursday.

‘The housing market experienced one of its strongest quarters since the boom in the middle of the last decade,’ said Andrew Leventis, principal economist for the FHFA, in a statement.

When transaction data from county recorder offices is combined with the FHFA's home price index – which is derived from mortgages sold to or guaranteed by Fannie Mae and Freddie Mac – the report shows that home prices increased 2.4% compared to the first quarter and rose 7.5% compared to the second quarter of 2012.

Home prices rose in 47 states and the District of Columbia during the second quarter, the report finds.

The five states posting the largest increases included Nevada, California, Arizona, Oregon and District of Columbia, in that order.

The Orlando-Kissimmee-Sanford, Fla., metropolitan market posted the largest increase in home prices, at 10%, while the Akron, Ohio area was lowest, posting a decrease of 3.9%.

To download a copy of the report, click here.


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