Home prices rose 0.7% in June, matching the increase in May, according to a house price index based on Fannie Mae and Freddie Mac purchase mortgage transactions.
The seasonally adjusted HPI published by the Federal Housing Finance Agency also shows house prices rose 2.1% in the second quarter from the previous quarter.
“The housing market experienced one of its
Overall, the FHFA HPI is up 7.7% from June 2012 and the index has been on an upward trend for 17 consecutive months.
Of the nine regions tracked by the FHFA, only the mid-Atlantic and New England states posted declining prices. Prices fell 0.6% from May to June in the mid-Atlantic region and 0.3% in New England.
Both regions were impacted by Hurricane Sandy last year. And their price performance also lags the other regions on a year-over year-basis. Since June 2012, prices are up just 2.5% in the mid-Atlantic and 3.7% in New England. In the Pacific and Mountain states, prices are up 17% and 11%, respectively.
