The Federal Housing Finance Agency (FHFA) reported that home prices rose 2.0 percent in the third quarter compared to the second quarter and 8.4 percent from the third quarter of 2012.  These increases were more modest that those released by S&P/Case-Shiller today, increases of 3.2 percent and 11.2 percent.  The monthly price figures released by the agency show an increase of 0.3 percent from August to September.

FHFA calculates is information from prices of home purchases with mortgages sold to or guaranteed by Fannie Mae and Freddie Mac.  That data is supplemented with information from county recorded offices and the Federal Housing Administration.

The third quarter HPI rose in 48 states and the District of Columbia.  Large quarter-over-quarter and one year increases were noted in Nevada, (7.23 and 25.16 percent), California (4.94 and 22.78 percent), Arizona (2.69 and 15.24 percent), Florida (+3.24 and 11.99 percent), and Washington (3.18 and 11.92 percent.)



The Pacific Region posted a 4.2 percent increase for the quarter and 19.2 percent compared to one year earlier.  The East South Central Division had the weakest increase, up 0.8 percent from the second quarter.

Among metro areas the greatest third quarter increases were in the Stockton-Lodi California area, up 8.3 percent.  Prices were weakest in Virginia Beach, Norfolk Newport News, Virginia/North Carolina area where prices fell 2.2 percent.

On an annual basis only Winston-Salem among all of the largest MSAs had a price decrease.  Eleven of those with the highest rates of appreciation were in California.