U.S. house prices rose in May, up 0.4 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 0.3 percent change in April was revised upward to reflect a 0.4 percent change.
The FHFA HPI is calculated using home sales price information from mortgages sold to or guaranteed by Fannie Mae and Freddie Mac. From May 2014 to May 2015, house prices were up 5.7 percent. The U.S. index is 1.8 percent below its March 2007 peak and is roughly the same as the April 2006 index level.
For the nine census divisions, seasonally adjusted monthly price changes from April 2015 to May 2015 ranged from -0.6 percent in the East South Central division to +1.1 percent in the East North Central division. The 12-month changes were all positive, ranging from +0.9 percent in the Middle Atlantic division to +8.4 percent in the Pacific division.