Monthly U.S. Home Price Index Shows 0.6 Percent Increase

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(WASHINGTON, D.C.) -- According to the Federal Housing Finance Agency's monthly House Price Index, U.S. house prices rose 0.6 percent on a seasonally adjusted basis from September to October. The previously reported 0.0 (zero) percent change in September was revised to a 0.4 percent decline. For the 12 months ending in October, U.S. prices fell 1.9 percent. The U.S. index is 10.8 percent below its April 2007 peak.

The FHFA monthly index is calculated using purchase prices of houses backing mortgages that have been sold to or guaranteed by Fannie Mae or Freddie Mac. For the nine Census Divisions, seasonally adjusted monthly price changes from September to October ranged from - 1.1 percent in the South Atlantic Division to + 3.7 percent in the Pacific Division.

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