Home Prices Still Rising, Inventory Still Dropping
Posted by Florida Realty Marketplace on
On Wednesday, at 9 a.m. EST, the Federal Housing Finance Agency (FHFA) will release its House Price Index (HPI) for March. The Index covers single-family housing, using data provided by Fannie Mae and Freddie Mac.
Previously, the FHFA reported in its February HPI that home prices rose 0.8 percent month-over-month. In the report, January’s former unchanged index was revised to a 0.2 percent increase.
On a seasonally adjusted national level, prices are now nearly 10 percent higher than their March 2007 peak. Prices have seen a compound annual growth rate of 3.5 percent since 1991, 3.4 percent since 2000, and 6.2 percent since 2012.
Out of all nine census divisions, the Mountain region saw the biggest annual increase in prices, with a 9.5 percent…
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