FHFA Home Price Deceleration was Short-Lived

Posted To: MND NewsWire

House prices increases moderated slightly compared to the pace set in August, but the Federal Housing Finance Index (FHFA) said the month-over-month gain in its Housing Price Index (HPI) in September was still a robust 0.6 percent . The index had posted 0.7 percent growth in August and a year-over-year gain of 6.4 percent. The September 2015 to September 2016 change was 6.1 percent. The change in the HPI from the second quarter of 2016 to the third quarter was 1.5 percent. Over the year ending with Q3 home prices were up 6.1 percent , however, FHFA points out that prices of other goods and services over that period were virtually unchanged. The means the price of homes reflects an inflation-adjusted gain of approximately 6.0 percent. "Our data indicate that the deceleration in home price growth...(read more)

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