U.S. home prices in August 2023 increased 0.6 percent from July, according to the Federal Housing Finance Agency’s monthly House Price Index.
Prices are up nearly six percent between August 2022 and August 2023.
“U.S. and regional house price gains remained strong over the last 12 months,” Dr. Nataliya Polkovnichenko, a supervisory economist in FHFA’s Division of Research and Statistics, said.
Indices Show Upward Monthly and Yearly Trends
All but one U.S. region had a monthly increase in home prices. The exception was the South Atlantic region, which experienced a 0.2 percent decrease, a “moderate weakness” as described by Polkovnichenko.
Year-over-year, the Middle Atlantic and New England had the most notable increases in home prices at 8.6 and 8.4 percent, respectively. All other regions posted a yearly increase between 2.4 and 8.3 percent.
While these increases are a slowdown from previous periods, including from double-digit growth in home prices in 2022, the continued upward trend is evident.
FHFA releases HPI data and reports on a quarterly and monthly basis. The flagship FHFA HPI uses seasonally adjusted, purchase-only data from Fannie Mae and Freddie Mac. Additional indices use other data including refinances, FHA mortgages, and real property records. All the indices, including their historic values, and information about future HPI release dates are available at FHFA.gov.
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