The Federal Housing Finance Agency (FHFA) said today that
home prices in the fourth quarter of 2014 were up 1.4 percent compared to the
previous quarter and 4.9 percent from the fourth quarter of 2013. The fourth quarter was the fourteenth
consecutive one in which the agency’s purchase only House Price Index (HPI)
increased on a seasonally adjusted basis from the prior quarter.
monthly HPI for December, also reported today, was up 0.8 percent from
November. This measure has increased for 23 of
the last 24 months with the single decreased registered in November 2013
FHFA’s index is calculated using home sales price
information from mortgages sold to or guaranteed by Fannie Mae and Freddie
Mac. An expanded data index using
transaction information from county recorders’ offices and the FHA was up 1.3
percent quarter-over-quarter and was 6.0 percent higher than in the fourth
quarter of 2013.