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ECON: House Prices Rose 2.1 percent in the Second Quarter
Posted to: Micro News
Thursday, August 22, 2013 9:20 AM
Upward momentum in U.S. house prices remained strong in the second
quarter, as prices rose 2.1 percent from the previous quarter, according to the Federal
Housing Finance Agency (FHFA) House Price Index (HPI). This is the eighth consecutive
quarterly price increase in the purchase-only, seasonally adjusted index.
“The housing market experienced one of its strongest quarters since the boom in the middle of
the last decade,” said FHFA Principal Economist Andrew Leventis.
The HPI is calculated using home sales price information from mortgages sold to or guaranteed
by Fannie Mae and Freddie Mac. Compared with last year, house prices rose 7.2 percent from
the second quarter of 2012 to the second quarter of 2013. FHFA’s seasonally adjusted
monthly index for June was up 0.7 percent from May.
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