U.S. house prices remained flat in January compared with December, according to the Federal Housing Finance Agency (FHFA) seasonally adjusted monthly House Price Index (HPI). From January 2016 to January 2017, house prices were up 5.7%.
The HPI has reflected positive monthly increases since early 2012, except for November 2013 and January 2017, when house prices were flat on a month-over-month basis. The previously reported 0.4% increase in December remains unrevised.
For the nine census divisions, seasonally adjusted monthly price changes from December 2016 to January 2017 ranged from -2.0% in the East South Central division to +0.6% in the Pacific division. The 12-month changes were all positive, ranging from +3.5% in the East South Central division to +8.3% in the Mountain division.
The FHFA monthly HPI is calculated using home sales price information from mortgages sold to, or guaranteed by, Fannie Mae and Freddie Mac.
