The Federal Housing Finance Agency (FHFA) reported Wednesday morning that U.S. home prices rose 0.2% year over year in April. Compared with April 2015, the inflation-adjusted home price has gained 5.9%. Home prices rose 0.8% sequentially in March.
The FHFA monthly index is calculated using purchase prices of houses with mortgages that have been sold to or guaranteed by Fannie Mae or Freddie Mac.
The consensus estimate for April called for a month-over-month increase of 0.6%.
Over the past 12 months, gains have been greatest in the Pacific states, up 8.6%, and least in the Middle Atlantic states, where prices are up 1.7%. The year-over-year index rose in all nine Census Bureau divisions in April.
Home prices posted month-over-month gains in seven of nine Census Bureau divisions. Only the Middle Atlantic (down 0.7%) and Mountain (down 0.3%) regions showed a decline. The New England region posted the largest month-over-month price gain, up 1.4%; the West North Central region gained 0.9%; the South Atlantic region gained 0.6%; the Pacific region posted a gain of 0.4%; the East South Central division added 0.3%; the East North Central region rose 0.1%; and the West South Central region remained unchanged.
Across the United States, home prices rose 5.9% year over year from April 2015.
The Average American Is Losing Momentum On Their Savings Every Day (Sponsor)
If you’re like many Americans and keep your money ‘safe’ in a checking or savings account, think again. The average yield on a savings account is a paltry .4%1 today. Checking accounts are even worse.
But there is good news. To win qualified customers, some accounts are paying more than 7x the national average. That’s an incredible way to keep your money safe and earn more at the same time. Our top pick for high yield savings accounts includes other benefits as well. You can earn a $200 bonus and up to 7X the national average with qualifying deposits. Terms apply. Member, FDIC.
Click here to see how much more you could be earning on your savings today. It takes just a few minutes to open an account to make your money work for you.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.