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US home prices increase

Residential property prices in the US rose 1.5% in the third quarter of the year, fresh figures from the Federal Housing Finance Agency (FHFA) House Price Index shows.

The house price index, calculated using home sales price information from mortgages sold to, or guaranteed by, Fannie Mae and Freddie Mac, reveals that house prices in Q3 increased by 6.1% compared with the corresponding period last year, while FHFA’s seasonally adjusted monthly index for September was up 0.6% from August.

All states recorded annual price gains in Q3, except for Delaware and Washington DC, led by growth in Florida, Oregon, Colorado and Utah.

FHFA supervisory economist Andrew Leventis commented: “Our data indicate that the deceleration in home price growth that we observed in late spring proved to be short-lived.

“While price growth in select markets has cooled somewhat, for the US as a whole, the third quarter showed no evidence of a widespread slowdown.” 

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