FHFA House Price Index Increased in July 2009
In particular, according to data released by the Federal Housing Finance Agency (FHFA) on 09/22/2009, US house prices increased 0.3% on a seasonally-adjusted basis in July, after registering a minimal monthly increase of 0.1% in the previous month. However, the index was still 4.2% below its July 2008 level and 10.5% below its April 2007 peak. The FHFA monthly House Price Index is estimated based on purchase prices of houses that serve as collateral for mortgages that have been sold to or guaranteed by Fannie Mae or Freddie Mac. The HPI registered also monthly gains of 0.3%, 0.3% and 0.6% in Mountain, West North Central and South Atlantic divisions, respectively. The East South Central division was the worst performer in July 2009 in terms of home values, as they registered a monthly decline of 0.9%. Home prices decreased in East North Central, West South Central, and New England as well by 0.3%, 0.2% and 0.1%, respectively.
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