Home Price Gains Top 6% Year-Over-Year

Posted To: MND NewsWire

Home prices appreciated in the first quarter of 2016 by 1.3 percent compared to the fourth quarter of 2015. The Federal Housing Finance Agency (FHFA) said this was the 19 th straight quarter its Housing Price Index (HPI) had posted a gain. The quarterly index was 5.7 percent higher than that for the first quarter of 2015, and FHFA noted that prices of other goods and services were virtually unchanged over that same period, making the inflation adjusted annual price increase 5.6 percent. The month over month change in the HPI was 0.7 percent (February to March), 0.2 percentage points higher than the analysts' consensus estimate gathered by Econoday. On an annual basis prices were up a strong 6.1 percent over the 12-month period. FHFA's home price estimates are calculated using sales information...(read more)

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