WASHINGTON, DC – U.S. house prices fell 0.6 percent on a seasonally adjusted basis from December to January, according to the Federal Housing Finance Agency’s monthly House Price Index. The previously reported 1.6 percent decline in December was revised downward to a 2.0 percent decline. For the 12 months ending in January, U.S. prices fell 3.3 percent. The U.S. index is 13.2 percent below its April 2007 peak.
The FHFA monthly index is calculated using purchase prices of houses backing mortgages that have been sold to or guaranteed by Fannie Mae or Freddie Mac. For the nine Census Divisions, seasonally adjusted monthly price changes from December to January ranged from –1.8 percent in the East North Central Division to + 2.0 percent in the Mountain Division.
Monthly index values and appreciation rate estimates for recent periods are provided in the table and graphs on the following pages. Click here for complete historical data.
For detailed information concerning the monthly HPI, please see the HPI Frequently Asked Questions (FAQ). The next release will be on April 22, 2010 and will include monthly data for February. The next release of FHFA’s quarterly HPI will be on May 25, 2010 and will include monthly data for March as well as data for the first quarter of 2010.
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The Federal Housing Finance Agency regulates Fannie Mae, Freddie Mac and the 12 Federal Home Loan Banks. These government-sponsored enterprises provide more than $6.3 trillion in funding for the U.S. mortgage markets and financial institutions.
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