Home Prices Ended 2015 Strong Despite Market Volatility

Posted To: MND NewsWire

The Federal Housing Finance Agency's House Price Index (HPI) for December came in slightly higher than the Case-Shiller National Home Price Index did earlier in the week. Case-Shiller put the annual increase in home prices year-over-year at 5.4 percent, FHFA pegged it at 5.8 percent. The FHFA number is calculated using home sales price information from mortgages sold to or guaranteed by Fannie Mae and Freddie Mac whereas Case-Shiller uses data on all sales in the nine census districts. FHFA said that prices increased 1.4 percent in the fourth quarter of 2015, the 18 th consecutive quarterly gain. On a monthly basis prices increased by 0.4 percent from November. "Instability in financial markets did not seem to put much of a drag on home prices in the fourth quarter," said FHFA Supervisory Economist...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Mortgage News Daily http://ift.tt/1KNNQ8e