Home prices increased slightly in November, but at a slightly higher pace than the previous month, according to the Federal Housing Finance Agency’s monthly Housing Price Index report.
Home prices increased a seasonally adjusted 0.5% in November, slightly higher than October’s downwardly-revised 0.3% increase. Home prices increased 6.1% from November 2015, the report shows.
Click to Enlarge
(Source: FHFA)
The FHFA monthly HPI is calculated using home sales price information from mortgages sold to, or guaranteed by, Fannie Mae and Freddie Mac. Because of this, the selection excludes high-end homes bought with jumbo loans or cash sales.
Home price changes varied for the month from the decrease of 0.2% in the South Atlantic division to the increase of 1.5% in the Pacific division. Annually, all home prices increased from 4.7% in the Middle Atlantic division to 7.7% in the Pacific division.
Click to Enlarge
(Source: FHFA)
