U.S. house prices rose 1.3 percent in the third quarter of 2018 according to the Federal Housing Finance Agency (FHFA) House Price Index (HPI). House prices rose 6.3 percent from the third quarter of 2017 to the third quarter of 2018. FHFA’s seasonally adjusted monthly index for September was up 0.2 percent from August.
The HPI is calculated using home sales price information from mortgages sold to, or guaranteed by, Fannie Mae and Freddie Mac.
“Home prices continued to rise in the third quarter but their upward pace is slowing somewhat,” said Dr. William Doerner, Supervisory Economist. “Rising mortgage rates have cooled down housing markets—several regions and over two-thirds of states are showing slower annual gains.”
You can watch Dr. Doermer’s presentation by clicking here.
The South Atlantic Region, which includes South Carolina, grew by 7.15% year-over-year, and 1.60% in the third quarter. Since 2013, house prices have grown 36.34% in the South Atlantic Region, the second fastest appreciating housing market in the country behind the Mountain Region.
Click here to review FHFA’s House Price Index Report.