Recent Updates
- Pakistan: Business Confidence Survey (Dec)
- Chile: PPI (Dec)
- Mauritius: Construction Cost Index (Dec)
- Turkey: Financial Stats Survey and Index (Jan)
- Bosnia & Herzegovina: IP (Dec)
- more updates...
Economy in Brief
Philadelphia Fed Manufacturing Index Jumps in January
The Federal Reserve Bank of Philadelphia Factory Sector Business Conditions Index jumped to January to 26.5...
U.S. Initial Jobless Claims Ease, but Are Still High
Initial claims for unemployment insurance fell to 900,000 in the week ended January 16...
French Surveys Improve Despite Ongoing Virus Issues
The spread of the virus in Franc is still untamed...
U.S. Home Builder Sentiment Slips in January
The Composite Housing Market Index from the NAHB-Wells Fargo declined 3.5% m/m (+10.7% y/y) in January...
Decline in Refinancing Drags Down U.S. Mortgage Applications
The MBA Mortgage Loan Applications Index fell 1.9% w/w (+56.2% y/y) in the weekend January 15...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
by Tom Moeller December 23, 2020
• Home price gain sets record for third straight month.
• Prices continue to strengthen regionally.
The Federal Housing Finance Agency (FHFA) House Price Index increased 1.5% during October following an unrevised record 1.7% September increase. The series dates back to January 1991. Over the past year, house prices have increased 10.2%, the fastest pace since September 2005. In the last three months, prices have risen at a 20.9% annual rate, up from 5.9% twelve months earlier.
Home prices were firm across the country. Monthly price gains were strongest in New England where they rose 2.1% (12.5% y/y). Prices rose 1.7% in the Middle Atlantic (10.4% y/y), Mountain (12.5% y/y) and Pacific (10.6% y/y) regions.
Prices rose 1.6% in the East North Central (10.3% y/y), 1.5% in the South Atlantic (9.8% y/y) and 1.2% (8.4% y/y) in the West South Central regions.
Monthly gains of 0.9% were logged in the West North Central (9.5% y/y) and East South Central (10.2% y/y) regions of the country.
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.
FHFA U.S. House Price Index, Purchase Only (SA %) |
Oct | Sep | Aug | Oct Y/Y | 2019 | 2018 | 2017 |
---|---|---|---|---|---|---|---|
Total | 1.5 | 1.7 | 1.6 | 10.2 | 5.3 | 6.5 | 6.3 |
New England | 2.1 | 2.2 | 1.8 | 12.5 | 4.6 | 5.1 | 5.6 |
Middle Atlantic | 1.7 | 2.1 | 1.9 | 10.4 | 4.5 | 5.3 | 4.7 |
East North Central | 1.6 | 1.4 | 1.3 | 10.3 | 5.4 | 6.4 | 5.8 |
West North Central | 0.9 | 1.8 | 1.5 | 9.5 | 5.1 | 6.0 | 5.1 |
South Atlantic | 1.5 | 1.6 | 1.6 | 9.8 | 5.7 | 7.0 | 6.5 |
East South Central | 0.9 | 2.0 | 1.2 | 10.2 | 5.9 | 6.0 | 5.5 |
West South Central | 1.2 | 0.9 | 1.7 | 8.4 | 4.7 | 5.2 | 6.0 |
Mountain | 1.7 | 2.0 | 1.8 | 12.5 | 7.1 | 9.0 | 8.3 |
Pacific | 1.7 | 1.8 | 1.8 | 10.6 | 4.7 | 7.3 | 8.4 |