The Federal Housing Finance Agency’s (FHFA) Home Price Index this week showed that home prices rose 1.2% nationally in the last quarter of 2013 making it the 10th consecutive quarterly increase. The index, based on “home sales price information from mortgages sold to, or guaranteed by, Fannie Mae and Freddie Mac,” also showed that home prices were 7.7% greater compared to the fourth quarter of 2012. On a month-over-month basis, home prices were 0.8% greater in December 2013 than November 2013 on a seasonally adjusted basis.
FHFA Principal Economist, Andrew Leventis, stated, “Home price appreciation in the fourth quarter was considerable, but more modest than in recent periods. It is too early to know whether the lower quarterly growth rate represents the beginning of more normalized price appreciation patterns or a more significant slowdown.” http://1.usa.gov/1csG8d1