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The FHFA national house price index jumped 0.7 per cent in December, which outpaced economists expectations for a 0.1 per cent increase.In the fourth quarter, the seasonally adjusted purchase-only index, which is based Fannie Mae and Freddie Mac-acquired mortgages, declined 0.1 per cent. Economists were expecting or 0.2 per cent increase.
“While FHFA’s national index shows a 2 percentage point price decline over the latest four quarters, 12 states and the District of Columbia posted price increases,” wrote FHFA’s Andrew Leventis. “When coupled with the fact that about half of all U.S. states saw price increases in the latest quarter, this growth adds to mounting evidence that real estate markets are seeing at least some signs of life.”