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ECON: FHFA Home Prices Rise 1 Percent in July
Posted to: Micro News
Tuesday, September 24, 2013 9:14 AM
U.S. house price appreciation continued in July 2013, rising
1.0 percent on a seasonally adjusted basis from the previous month, according to the Federal
Housing Finance Agency (FHFA) monthly House Price Index (HPI). The July HPI change
marks the eighteenth consecutive monthly price increase in the purchase-only, seasonally
adjusted index. The previously reported 0.7 percent increase in June remained unchanged.
The HPI is calculated using home sales price information from mortgages either sold to or
guaranteed by Fannie Mae and Freddie Mac. Compared to July 2012, house prices were up
8.8 percent in July. The U.S. index is 9.6 percent below its April 2007 peak and is roughly
the same as the March 2005 index level.
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