Home prices rose marginally in November

Jan. 23, 2014 at 1:38 PM   |   Comments

WASHINGTON, Jan. 23 (UPI) -- U.S. home prices rose 0.1 percent in November, the Federal Housing Finance Agency said Thursday.

The agency, which tracks prices of homes with mortgages backed by either the Federal National Mortgage Association or the Federal Home Loan Mortgage Corp. -- better known as Freddie Mac and Fannie Mae -- said prices rose for the 22nd consecutive month in the seasonally adjusted purchase-only index.

Home prices tracked by the agency were up 7.6 percent from November 2012, a decline from the annual gain of 8.2 percent from the previous month.

The agency's Home Price Index remains 8.9 percent below its April 2007 peak, a slight gain from October, when the index was 8.8 percent above the per-recession high.

In the month-to-month index, the biggest drop was in the East South Central division, where prices were off 1.4 percent. The biggest gain was in the Mountain, West North Central and East North Central divisions, where the indexes rose 0.5 percent.

Over 12 months, the smallest gain, 3.2 percent, was in the Middle Atlantic division. The largest gain was 15.4 percent in the Pacific division.

© 2014 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Recommended UPI Stories
Most Popular
Northrop Grumman developing reusable space plane for lifting spacecraft into orbit
Construction on Russian gas line to China slated for September
Corona Extra recalled due to glass particles in beer
Navy to test Lockheed Martin's FORTIS exoskeleton
Final builder sea trials for Australian landing helicopter dock ship
Trending News