Tuesday, the Federal Home Finance Agency's Home Price Index (HPI) showed home values rising 0.2% on a seasonally-adjusted basis between June and July 2012, and moving +3.7% on an annual basis. Home values have not dropped month-to-month since January of this year -- a span of 6 months. For today's home buyers and sellers throughout Phoenix , though, it's important to recognize on what the HPI is actually reporting. Or, stated differently, on what the HPI is not reporting. The Home Price Index is based on home price changes of some homes, of certain "types", with specific mortgage … [Read more...]
Government : Home Prices Up 3.0% In Last 12 Months Nationwide
The housing market recovery appears to be sustainable. According to the Federal Housing Finance Agency's Home Price Index, home prices rose by a seasonally-adjusted 0.7 percent between May and June 2012. The index is now up 3.0% over the past 12 months, and made its biggest quarterly gain since 2005 last quarter. The FHFA's Home Price Index measures home price changes through successive home sales for homes whose mortgages are backed by Fannie Mae or Freddie Mac, and for which the property type is categorized as a "single-family residence". Condominiums, multi-unit homes and … [Read more...]