FHFA: U.S. House Prices Up 0.6% In October

U.S. house prices rose 0.6% on a seasonally adjusted basis from September to October, according to the Federal Housing Finance Agency's (FHFA) monthly House Price Index. The previously reported 0% change in September was revised to a 0.4% decline.

According to the FHFA, for the 12 months ending in October, U.S. prices fell 1.9%. The U.S. index is 10.8% below its April 2007 peak.

The FHFA monthly index is calculated using purchase prices of houses backing mortgages that have been sold to or guaranteed by Fannie Mae or Freddie Mac. For the nine Census Divisions, seasonally adjusted monthly price changes from September to October ranged from -1.1% in the South Atlantic division to +3.7% in the Pacific division.

SOURCE: Federal Housing Finance Agency

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