U.S. FHFA house price index rises sequentially in August

The Federal Housing Finance Agency (FHFA) has showed that the U.S. house prices rose in August on a sequential basis. The seasonally adjusted monthly House Price Index rose 0.7 percent. The index for July was upwardly revised to 0.4 percent rise from the previously reported 0.2 percent rise. On a year-on-year basis, the house prices were up 6.6 percent.

Region wise, eight out of nine areas registered a rise in home prices, implying a widespread pick-up. The largest rise was seen in the Pacific that recorded an increase of 1.4 percent, whereas other regions recorded rises in the range of 0.4 percent-0.6 percent. The New England region was the only region that recorded a drop in homes prices of 0.1 percent.

The 12-month changes were all positive, ranging from 5 percent in the Middle Atlantic division to 9.3 percent in the Pacific division. Overall, home price appreciation in the U.S. continues to maintain a steady pace, noted Barclays in a research report.

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