The FHFA US House Price Index (HPI) increased in October 2009, according to just released data from the Federal Housing Finance Agency (FHFA).
More specifically, the seasonally adjusted purchase only HPI increased by 0.6% in October 2009, following a decrease of -0.4% in September.
The FHFA US House Price Index though was down 1.9% from its October 2008 level and 10.8% from its April 2007 peak.
The US national house price index masks significant differences in home price trends across locations both in terms of magnitude and direction.
In particular, the FHFA house price index increased in six out of the nine US divisions, but remained flat in New England and decreased in East North Central and South Atlantic.
The Pacific Division was by far the best performer as house prices registered a monthly increase of 3.7%. Middle Atlantic and East South Central were the second and third best performing divisions with monthly increases of 1.8% and 1.6%, respectively.
The Mountain, West South Central and West North Central registered house price increases of 0.8%, 0.5% and 0.2%, respectively.
The FHFA US house price index registered monthly declines of -1.1% and -0.6% in South Atlantic and East North Central divisions, respectively.
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