According to the latest Federal Housing Finance Agency (FHFA) House Price Index (HPI) U.S. house prices rose 1.4% in Q3 of 2017. Year over year, prices rose 6.5% from Q3 2016 to the third quarter of 2017. In addition, FHFA’s seasonally adjusted monthly index for September was up 0.3% from August. Their HPI is calculated using home sales price information from mortgages sold to, or guaranteed by, Fannie Mae and Freddie Mac.
“With relatively favorable economic conditions and a continued shortage of housing supply, price increases in the third quarter were generally robust and widespread,” said Andrew Leventis, Deputy Chief Economist. “At some point, declining housing affordability should temper appreciation rates in some of the nation’s fastest appreciating markets, but our third quarter results show few signs of that.”
Click here to read the full report on FHFA.gov.