U.S. fhfa house price index rises in January
Source: FxWire Pro - Commentary / 22 Mar 2018 17:19:49 Eastern Standard Time
The U.S. FHFA purchase-only Price Index rose in the month of January. The index came in 0.8 percent sequentially, coming in stronger than consensus expectations of 0.4 percent rise. Moreover, the earlier month’s print was upwardly revised by one-tenth to 0.4 percent sequentially.
The year-on-year growth rose to 7.3 percent. The rise in home prices was distributed well throughout the nine regions recorded, with just West S. Central recording a fall of 0.7 percent.
This implies a widespread momentum in home price appreciation. The lean inventory situation, particularly among existing homes, along with healthy levels of prospective buyers’ traffic, is keeping home prices supported, noted Barclays in a research report.
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