Across the nation, home prices increased in July, however on region in the Midwest a decrease from the month before, according to the latest House Price Index from the Federal Housing Finance Agency.
Home prices increased 0.2% in July from the month before, and rose 6.3% from July 2016, according to the HPI.
The chart below shows home prices continue to reach all new highs, but increases seem to be leveling off slightly.
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(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.
But while home prices are increasing across the nation, one region, the West North Central division saw a drop in home prices of 0.5% from June to July. Changes in home prices ranged from this drop to an increase of 0.6% in the Pacific division.
Similarly, the West North Central division saw the lowest annual increase with 4.2%, compared to the Mountain and Pacific divisions which each saw an increase of 8.2% from July 2016.
Here is a list of which states are in each of those divisions:
West North Central: North Dakota, South Dakota, Minnesota, Nebraska, Iowa, Kansas, Missouri
Pacific: Hawaii, Alaska, Washington, Oregon, California
Mountain: Montana, Idaho, Wyoming, Nevada, Utah, Colorado, Arizona, New Mexico
