Home Price Index

FHFA HPI Bounces in July 

The Federal Housing Finance Authority's Home Price Index (HPI) reported a seasonally adjusted 0.8% increase in national home prices for July.  It is the fourth consecutive month that the index has shown increases. The trend of month-over-month increases has yet to bring increases to the year-over-year data, as home prices have declined 3.3% from the previous July.  The index is currently 18.4% below the peak reached in April 2007 and in-line with the level recorded in March 2004. In the HPI, the FHFA tracks home purchase prices of transactions that had mortgages sold to or guaranteed by Fannie Mae