| FHFA House Price Index |
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Released On 8/24/2011 10:00:00 AM For Jun, 2011
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Prior | Prior Revised | Consensus | Consensus Range | Actual |
| M/M change | 0.4 % | 0.3 % | 0.2 % | 0.0 % to 0.3 % | 0.9 % | | Y/Y change | -6.3 % | -6.2 % | | | -4.3 % |
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Highlights
Prices of homes with agency-conforming mortgages rose for a third straight month in June and at an accelerating rate. The FHFA purchase only house price index is up a surprisingly strong 0.9 percent in June following a 0.4 percent increase in May.
The year-on-year rate improved for a second straight month, to minus 4.3 percent vs minus 6.2 in May (revised from minus 6.3 percent) and minus 6.3 percent in April (revised from minus 6.4 percent).
Seven of nine census divisions posted monthly gains led by a 3.3 percent gain for the East North Central. At minus 0.8 percent, the Pacific region was the weakest.
Next update on home prices will be next Tuesday with the Case-Shiller home price index.
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Market Consensus before announcement
The FHFA home price index in May rose for the second month in a row. The FHFA (Federal Housing Finance Agency) purchase only house price index rose 0.4 percent in May, following a 0.2 percent increase in April.
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Definition
The Federal Housing Finance Agency (FHFA) House Price Index (HPI) covers single-family housing, using data provided by Fannie Mae and Freddie Mac. The House Price Index is derived from transactions involving conforming conventional mortgages purchased or securitized by Fannie Mae or Freddie Mac.
Why Investors Care
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![[Chart]](showimage.asp?imageid=21276)
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The FHFA Home Price Index captures price data for an important segment of the housing market - home purchases with mortgages financed or bundled by federal housing agencies. However, this HPI does not cover high end housing.
Data Source: Haver Analytics
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