Posted To: MND NewsWire

The pace of annual price increases ticked slightly higher in January according to Federal Housing Finance Agency (FHFA) House Price Index (HPI). The index, which had marked a 5.1 percent year-over-year gain, in December, rose by 5.2 percent in January. The monthly increase was down significantly, however. While the original December increase of 0.6 percent was revised to 0.7 percent, the December to January appreciation was only 0.3 percent. Compared to December, prices declined in two of the nine census divisions. Prices ticked down 0.2 percent in the Mountain division and 0.1 percent in the West North Central. The highest increase, 0.7 percent, was in the South Atlantic followed by the Pacific division at 0.5 percent. Price appreciation was positive on an annual basis in all regions, led…(read more)

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Source: Mortgage News Daily