Home prices rose 1.1% across the U.S. in October, according to the latest Federal Housing Finance Agency House Price Index (FHFA HPI®). Year-over-year, prices increased 17.4%. The previously reported 0.9% price change for September 2021 remained unchanged.
For the nine census divisions, seasonally adjusted monthly house price changes from September 2021 to October 2021 ranged from -0.3% in the New England division to +1.7% in the East South Central division.
The 12-month changes ranged from +13.2% in the West North Central division to +23.2% in the Mountain division.
“Annual house price gains remained extremely high in August but the pace of month-over-month gains continues to decelerate,” said Dr. Lynn Fisher, FHFA’s deputy director of the Division of Research and Statistics, in a statement. “This does not mean house prices are at risk of declining—far from it, they continue to climb at a double-digit pace in all regions—but it does suggest we may have seen the peak in annual gains for the time being.”
