U.S. Monthly House Price Index Increases 0.7 Percent from September to October

U.S. house prices rose 0.7 percent on a seasonally adjusted basis  from September to October, according to the Federal Housing Finance Agency’s monthly House Price Index.  The previously reported 0.7 percent decrease in September was revised  downward to a 1.2 percent decrease.  For the 12 months ending in October, U.S. prices fell  3.4 percent.  The U.S. index is 14.5 percent below its April 2007 peak.  The FHFA monthly index is calculated using purchase prices of houses backing mortgages that have been sold to or guaranteed by Fannie Mae or Freddie Mac.  For the nine Census  Divisions, seasonally adjusted monthly price changes from September to October ranged from -2.3 percent in the East South Central Division to +2.1 percent in the East North Central Division.

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