A Good Day for House Prices

The Federal Housing Finance Agency (FHFA) released monthly house price indexes for the US and the nine Census divisions for May today. Nationally, house prices rose 0.8% from April on a seasonally adjusted basis and 1.8% on an unadjusted basis. Seven of the nine Census divisions rose in May, with increases ranging from 0.5% to 1.7% seasonally adjusted. House prices were flat in the East South Central division and declined 1.0% in the West South Central division. On an unadjusted basis the decline in the West South Central division was reduced to 0.7% and increases in the remaining divisions ranged from 1.0% to 3.4%. From May of last year, nationally house prices rose 3.8% while increases across divisions ranged from 0.1% in the New England division to 4.5% in the Mountain division (not seasonally adjusted).

Adding to other signals of a strengthening housing market recovery, house prices have posted solid gains so far in the first half of this year after a turbulent 2011. The indexes for the nine divisions show strong gains around the country in 2012, including the divisions with the hardest hit housing bubble states of Florida, California, Arizona and Nevada.

For the full history for FHFA house price indexes at the national and division levels click here: fhfa9.

 



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  1. It is a good day for housing in Indianapolis! We are starting to see semi trucks on the roads with lumber once again. It was almost shocking to watch them pass by! Petty Custom Homes is pricing many high-end, luxury residential projects right now-our suppliers are happy to see us walk in the door because they know the project is going to be significant. There is no shortage of good land in Central Indiana right now and the Banks are encouraging homeowners to build new custom homes, which is good for Petty Homes. We have been building for 20 years and not going anywhere soon, we love this buisinesss. It’s a great way to put American back to work utilizing American products.

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