FHFA: House Prices Up 3 Percent Year-over-Year

House prices tacked on another increasernin April, bringing the annual increase to 3.0 percent according to the FederalrnHousing Finance Agency’s (FHFA’s) Home Price Index (HPI) issued onrnThursday.  April’s HPI was up 0.8 percentrnfrom March although the March increase was revised down from the 1.8 percentrnincrease originally reported to 1.6 percent.</p

The current HPI which is calculatedrnusing purchases prices of houses backing mortgages that have been sold to orrnguaranteed by Freddie Mac or Fannie Mac is 186.8.  In April 2011 I was 181.3.  </p

Prices were up in six of the nine censusrnregions with the largest increase in the Pacific and Mountain regions at 2.2rnpercent and 1.9 percent respectively.  Thernlargest decrease was in New England, down 1.2 percent. </p

The U.S. Index is 17.6 percent below itsrnpeak in April 2007 and is roughly the same as in April 2004.</p

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