US FHFA house price index for the month of June 0.2% vs 0.2% estimate

Author: Greg Michalowski | Category: News

Federal Housing Finance Association house price index for the month of June 2019

  • House price index for June 0.2% versus 0.2% estimate.  Prior month revised to 0.2% from 0.1%.
  • Home price purchase index QoQ 1.0% versus 0.3% estimate. Prior quarter revised higher to 1.3% from 1.1%
  • US home prices +4.8% in 12 months through June
The data is for June. So the data does not tke into account the lower rates from the rate cut (and lower mortgage rates).

From the FHFA on the release:
  • House prices have risen for 32 consecutive quarters across the United States. 
  • House prices rose in all 50 states and the District of Columbia between the second quarters of 2018 and 2019.  The top five areas in annual appreciation were: 1) Idaho 11.4 percent; 2) Utah 7.7 percent; 3) Tennessee 7.2 percent; 4) Georgia 6.9 percent; and 5) Arizona 6.9 percent.  The areas showing the smallest annual appreciation were:  1) Delaware 1.2 percent; 2) Maryland 1.5 percent; 3) District of Columbia 1.8 percent; 4) Iowa 2.2 percent; and 5) New Jersey 2.7 percent. 
  • House prices rose in all 100 of the largest metropolitan areas in the U.S. over the last four quarters.  Annual price increases were greatest in Boise City, ID, where prices increased by 13.6 percent.  Prices were weakest in Oxnard-Thousand Oaks-Ventura, CA, where they increased 0.5 percent. 
  • Of the nine census divisions, the Mountain division experienced the strongest four-quarter appreciation, posting a 6.6 percent gain between the second quarters of 2018 and 2019 and a 1.3 percent increase in the second quarter of 2019.  Annual house price appreciation was weakest in the Middle Atlantic division, where prices rose by 4.0 percent between the second quarters of 2018 and 2019.

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