The FHFA Home Price Index MISSES Expectations Rising 0.2%

The FHFA house price index climbed just 0.2 per cent in the month of July.

And the index was up 3.7 per cent on the year.

Last month’s reading was revised down to a 0.6 per cent gain, from 0.7 per cent.

But the national index is 16.4 per cent below its April 2007 peak.

This chart from the FHFA shows the trajectory of the house price index since February 2011:

FHFA july chart

Photo: FHFA

And this chart shows how prices have changed across the different regions in the U.S.:

FHFA july chart

Photo: FHFA

Expectations: The FHFA House price index for July is set to be released at 10 a.m. ET.

Economists polled by Bloomberg expect home prices to rise 0.8 per cent month-over-month (mum).

In June the FHFA house price index climbed 0.7 per cent mum and 3.6 per cent year-over-year.

The housing recovery story was already strengthened by today’s S&P Case-Shiller index which showed that home prices were up 1.2 per cent year-over-year.

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