House Prices Rise Slightly in May

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U.S. house prices rose in May, up 0.2 percent on a seasonally adjusted basis from the previous month, according to the Federal Housing Finance Agency (FHFA) monthly House Price Index (HPI).  The previously reported 0.2 percent increase in April was revised upward to reflect a 0.3 percent increase.

The FHFA monthly HPI is calculated using home sales price information from mortgages sold to, or guaranteed by, Fannie Mae and Freddie Mac.  From May 2015 to May 2016, house prices were up 5.6 percent.

For the nine census divisions, seasonally adjusted monthly price changes from April 2016 to May 2016 ranged from -1.3percent in the New England division to +1.2 percent in the Mountain division.  The 12-month changes were all positive, ranging from +3.4 percent in the Middle Atlantic division to +8.5 percent in the Mountain division.

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