In the first quarter of 2018, home prices rose 1.7 percent, according to the Federal Housing Finance Agency’s (FHFA) recently released House Price Index (HPI). The HPI year-over-year was up 6.9 percent.
“Home prices continue to rise across the U.S., but there are signs of tapering,” said Dr. William Doerner, senior economist at the FHFA, in a statement. “Since housing markets began to rebound in 2012, house price appreciation has been positive because demand has outpaced supply. In the last month, however, some regions reflect a slowing or even flattening of house price growth.”
Per the Index, annual appreciation ranged from 9.5 percent in the Pacific Census division to 5.3 percent in the East South Central division.
Source: Federal Housing Finance Agency (FHFA)
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