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5/25, 3:02 PM (Source: TeleTrader)
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FHFA: US house prices rise by 1.4% in March

House prices in the United States went up by 1.4% in March in comparison to the month before, exceeding estimates, the Federal Housing Finance Agency (FHFA) revealed in its report published on Tuesday.

Meanwhile, on an annual level, the figure advanced by 12.6%. In comparison to the previous quarter, the prices rose by 3.5%. The highest year-on-year rises were observed in Idaho with 23.7%, Utah with 19.2%, and Arizona with 17.4%.

"House price growth over the prior year clocked in at more than twice the rate of growth observed in the first quarter of 2020, just before the effects of the pandemic were felt in housing markets," Dr. Lynn Fisher, Deputy Director of FHFA's Division of Research and Statistics, said. "In March, rates of appreciation continued to climb."

Breaking the News / JR