The Federal Housing Finance Agency (FHFA) Price Index increased 0.2% during November following a 0.4% October gain, revised from 0.2%. The 4.9% y/y increase moderated versus the 6.6% increase for all of 2018. During the last three months, prices rose at a 5.4% annual rate. Earlier figures were revised.

Prices in the East North Central section of the country strengthened 0.8% (5.5% y/y) in November following the prior month's 0.2% decline. The 3-month rate of increase cooled to 4.7% (AR) from its peak 10.2% as of February.  Prices rose 0.2% in the Pacific region (4.6% y/y) and in the West North Central states (4.8% y/y).

Prices everywhere else edged 0.1% higher, except the Mountain region where they declined 0.1% (+6.3% y/y). Here prices rose at a lessened 5.0% rate during the last three months.

The FHFA house price index is a weighted purchase-only index that measures average price changes in repeat sales of the same property. An associated quarterly index includes refinancings on the same kinds of properties. The indexes are based on transactions involving conforming, conventional mortgages purchased or securitized by Fannie Mae or Freddie Mac. Only mortgage transactions on single-family properties are included. The FHFA data are available in Haver's USECON database.