Home prices on the Federal Housing Finance Agency's (FHFA's) Housing Price Index (HPI) crept higher in October, although year over year appreciation slowed. FHFA, which remains open during the shutdown, released its data Thursday morning reflecting prices of homes purchases using financing from the GSEs Fannie Mae and Freddie Mac.
The Index gained 0.3 percent in October, a slight acceleration from the 0.2 percent increase in September. Prices rose in seven of the nine census districts with the greatest increases in the Pacific division at 1.4 percent and the West North Central at 1.1 percent. Prices in the South and Middle Atlantic districts declined by 0.6 percent and 0.2 percent respectively.
Year-over-year price gains decelerated from the previous month's 6.0 percent to 5.7 percent in October. All nine divisions posted positive numbers, ranging from 3.3 percent in the Middle Atlantic division to 8.5 percent in the Mountain division.
The FHFA HPI was benchmarked to 100 in January 1991. The September 2018 index reading was 267.9.
The report on new home sales scheduled for release by the U.S. Census Bureau and the Department of Housing and Urban Development has been delayed by the shutdown. There is no information about the new release date.