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4/26, 3:03 PM (Source: TeleTrader)
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US house price index up by 2.1% in February

The seasonally adjusted monthly index for house prices in the United States observed a monthly rise of 2.1% in February, exceeding expectations, the Federal Housing Finance Agency (FHFA) revealed in its report published on Tuesday. On an annual level, the figure surged by 19.4%.

Of the nine census divisions, the South Atlantic one recorded the highest monthly increase with 2.9%. The prices grew the least in the East North Central division, which registered a rise of 1.3%. The biggest annual growth was observed in the Mountain division, with 24.3%, and the least one, of 15.3%, in the East North Central division.

"House prices rose to set a new historical record in February," Will Doerner, Ph.D., Supervisory Economist in FHFA's Division of Research and Statistics, commented. "Acceleration approached twice the monthly rate as seen a year ago. Housing prices continue to rise owing in part to supply constraints."

Baha Breaking News (BBN) / JR