Home prices increased in November, rising only 0.2% from the previous month’s revised pace, but up 4.9% from 2018, according to the latest monthly House Price Index from the Federal Housing Finance Agency.
The FHFA monthly HPI is calculated using home sales price information from mortgages sold to or guaranteed by Fannie Mae and Freddie Mac. Because of this, the selection excludes high-end homes bought with jumbo loans or cash sales.
The report explains that across the nine census divisions, the East North Central division saw the strongest appreciation growth, increasing by 0.8% November, whereas the Mountain division experienced no growth, as appreciation declined 0.1%.
However, the FHFA highlights that the 12-month changes were all positive, with the New England and the West South Central divisions posting the smallest gain of 3.8%, and the Mountain division leading the way with a 6.3% increase.
These are the states located in each division mentioned:
East North-Central: Michigan, Wisconsin, Illinois, Indiana, Ohio
Mountain: Montana, Idaho, Wyoming, Nevada, Utah, Colorado, Arizona, New Mexico
New England: Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, Connecticut
West South Central: Oklahoma, Arkansas, Texas, Louisiana
The chart below compares 12-month price changes to the prior year: