Home prices jump more than forecast in September

Home prices rose more than forecast in September, according to the Federal Housing Finance Agency (FHFA).

The house price index rose 0.8% during the month.

Economists had estimated, according to Bloomberg, that the house price index rose 0.4% in September. In August, the index rose 0.3%.

According to this data point, home prices have risen during every single month since December 2013.

The FHFA’s Andrew Leventis said in the release, “The factors that have contributed to extraordinary price growth over the last few years — low interest rates, tight inventories, strong buyer confidence, and improving income growth — continued to drive prices upward in much of the country. However, as prices continue to rise, reduced affordability will be a stronger market headwind.”

The FHFA also released third-quarter numbers, which showed that house prices rose 1.3% in Q3, increasing for a 17th straight quarter.

On Tuesday, the S&P/Case-Shiller home prices report showed a 0.6% rise month-on-month in September, and 5.5% year-on-year.

Here’s the latest house price index chart:

And the state-by-state change in home prices from Q4 2014 to Q4 2015:

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