The FHFA House Price Index Beat Expectations Rising 0.5%
The FHFA house price index beat expectations rising 0.5 percent month-over-month in October.
But September's number was revised down to 0.0 percent.
The index is 15.7 percent below its April 2007 peak.
From the press release:
"For the nine census divisions, seasonally adjusted monthly price changes from September to October ranged from -1.3 percent in the Middle Atlantic division to +2.0 percent in the Pacific division while the 12-month changes ranged from -0.1 percent in the New England division to +13.1 percent in the Mountain division."
Here is a chart showing the trajectory of home prices from January 1991 on:
Original
The FHFA house price index for October is out at 10 a.m. ET. Economists polled by Bloomberg are looking for 0.3 percent month-over-month rise in home prices.
Home prices rose 0.2 percent in September.
Despite talk that housing has turned the corner, some analysts have said that home prices should be negative for the rest of the year.
The Federal Housing Finance Agency (FHFA) House Price Index (HPI) covers single-family housing, using data provided by Fannie Mae and Freddie Mac.
We will have the release LIVE at 10 a.m. ET. Click here for updates >
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