The seasonally adjusted HPI published by Federal Housing Finance Agency has risen for seven straight months and is up almost 5% from August 2011.
The FHFA HPI divides the U.S. into nine geographic regions—and all are registering positive price appreciation. The Mountain states (up 11.4%) and Pacific (8.1%) region are posting the highest annual gains with the mid-Atlantic registering the worst at 0.4%.
“Home prices appear to be the silver lining of the housing market today, as one of the main indicators showing consistent signs of improvement and recovery,” said Tim Rood, a partner and managing director at The Collingwood Group in Washington.
“Most reputable indices show that home prices have bottomed and are now rising,” Rood added.