Home Prices Up for 21st Straight Month
House prices rose a seasonally adjusted 0.5% for October, according to a Federal Housing Finance Agency (FHFA) report (link opens as PDF) released today. After increasing a revised 0.2% for September, this latest report marks the 21st straight month of price increases. Analyst expectations were almost spot-on, having predicted 0.4% growth.
The FHFA House Price Index is calculated using single-family-home sales-price information from mortgages sold to or guaranteed by Fannie Mae and Freddie Mac and, at current levels, is comparable to readings from April 2005.
Compared to October 2012, home prices are 8.2% higher, but the index remains 8.8% below its April 2007 peak.
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