U.S. home prices increased 0.8% in January compared with December and were up 7.3% compared with January 2017, according to the Federal Housing Finance Agency’s (FHFA) monthly home price index report.
The previously reported 0.3% increase in December was revised upward to 0.4%, the regulator reports.
The monthly HPI is calculated using home sales price information from mortgages sold to, or guaranteed by, Fannie Mae and Freddie Mac.
Regionally, month-over-month price changes ranged from -0.7% in the West South Central division to +1.2% in the New England and Pacific divisions.
Year over year, all regions recorded home price growth, ranging from +5.1% in the West South Central division to +10.0% in the Mountain division.