U.S. home prices rose a modest 0.5 percent from January to February, according to the Federal Housing Finance Agency (FHFA) monthly House Price Index (HPI). The HPI is also up 4.9 percent in year-over-year.

The HPI is FHFA’s “weighted, repeat-sales index, meaning that it measures average price changes in repeat sales or refinancings on the same properties. This information is obtained by reviewing repeat mortgage transactions on single-family properties whose mortgages have been purchased or securitized by Fannie Mae or Freddie Mac since January 1975.”

Courtesy of FHFA

Overall, the index varied greatly from region to region. Prices fell 1.2 percent in the Middle Atlantic division and rose 1.4 percent in the East South Central. The 12-month changes, however, were all positive — ranging from an increase of 3.5 percent in the West South Central division to 6.5 percent in the Mountain division.

Email Veronika Bondarenko

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