House prices rose nationwide in May, up 1.4% from the previous month, according to the latest Federal Housing Finance Agency House Price Index (FHFA HPI). House prices rose 18.3% from May 2021 to May 2022. The previously reported 1.6% price change for April 2022 was revised downward to 1.5%.
For the nine census divisions, seasonally adjusted monthly house price changes from April 2022 to May 2022 ranged from +0.2% in the Pacific division to +2% in the New England division. The 12-month changes were all positive, ranging from +13.9% in the Middle Atlantic division to +23.8% in the South Atlantic division.
“House prices continued to rise in May, but at a slower pace” observes Will Doerner, Ph.D., supervisory economist in FHFA’s Division of Research and Statistics. “Since peaking in February, price appreciation has moderated slightly. Price growth continues to remain above historical levels, supported by the low inventory of properties for sale.”
Image: “fannie-mae-freddie-mac” by hnnbz is licensed under CC BY 2.0
