Home prices rose just under 1% in June after a 0.4% increase in May, according to new figures compiled by the Federal Housing Finance Agency.
According to the agency's house price index – which is based solely on Fannie Mae and Freddie Mac purchase mortgage transactions – residential values have risen for three consecutive months now.
However, the seasonally adjusted HPI is down 4.3% from a year ago.
Prices are roughly now at the same HPI level seen back in February 2004.
The GSE regulator breaks the U.S. into nine regions. On a month-over-month basis, prices rose the most (3.3%) in the Midwestern states of Michigan, Wisconsin, Illinois, Indiana and Ohio.
And prices fell the most (-0.8%) in the Pacific states of Hawaii Alaska, Washington, Oregon and California.
