An index tracking sales of homes purchased with loans owned or guaranteed by Fannie Mae or Freddie Mac showed home prices rising for the third consecutive month from June to July, by a seasonally adjusted 0.3 percent, the Federal Housing Finance Agency said.

The FHFA’s monthly index — which can understate price swings in either direction because it excludes loans too big or too risky for Fannie and Freddie — showed U.S. home prices down 4.2 percent from a year ago and 10.5 percent from an April 2007 peak.

FHFA revised downward, to 0.1 percent, a previous estimate that U.S. home prices rose by 0.5 percent from May to June.

The index showed prices rising in five of nine Census divisions from June to July: the Pacific (1.6 percent), Middle Atlantic (1 percent), South Atlantic (0.6 percent), Mountain (0.3 percent), and West North Central (0.3 percent).

Prices were down in the East South Central (-0.9 percent), East North Central (-0.3 percent), West South Central (-0.2 percent) and New England (-0.1 percent) divisions.

Looking back a year, home prices were down the most in the Mountain division (-9.8 percent), followed by the Pacific (-9 percent), South Atlantic (-5.6 percent), East North Central (-3.3 percent), Middle Atlantic (-2.9 percent), New England (-2.5 percent), East South Central (-1.7 percent), and West North Central (-1.5 percent) divisions.

Prices were essentially unchanged in the West South Central division, rising by 0.1 percent from a year ago.


What’s your opinion? Leave your comments below or send a letter to the editor.

Show Comments Hide Comments


Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Thank you for subscribing to Morning Headlines.
Back to top
We're giving away 3 free ICLV tickets at Connect Now next week. Register and attend live for your chance to win!REGISTER×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription