U.S. home prices rose 0.6%, on a seasonally adjusted basis, in October compared to September and were up 4.5% compared to October 2013, according to the Federal Housing Finance Agency's monthly home price index (HPI), which is calculated using information from mortgages sold to or guaranteed by Fannie Mae and Freddie Mac.
The index shows that as of October, home prices were within 5.1% of their peak in April 2007 peak and were at roughly the same level seen in September 2005.
As has been the case, home price appreciation was spotty and market-specific. Month over month, home prices were down 0.3% in the Pacific division, but up 1.5% in the South Atlantic division. Year over year, all nine census divisions posted gains.
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