Home prices up slightly in August

10/24/2013

Home prices up slightly in August

Home prices up slightly in August

WASHINGTON – Oct. 23, 2013 – The U.S. Federal Housing Finance Agency’s House Price Index rose 0.3 percent in August with prices now higher for 19 consecutive months, the agency said.

The agency said the previously reported July increase was revised lower from 1 percent to 0.8 percent.

The index keeps track of prices of homes with mortgages backed by either the Federal National Mortgage Association or the Federal Home Loan Mortgage Corp., better known as Freddie Mac and Fannie Mae, respectively.

The FHFA said the price index, while up for 19 months, is 9.4 percent less than the April 2007 peak. Prices are currently near April 2005 levels.

Among the nine U.S. census regions, the home price index ranged from a 0.5 percent decline in the South Atlantic division to a 1.3 percent gain in the Mountain division.

On a 12-month basis, price changes have ranged from a 4 percent gain in the Middle Atlantic division to an 18.2 percent gain in the Pacific division, the agency said.

Copyright © 2013 United Press International, Inc. (UPI).

Ready to live the Florida Keys Dream? Contact us online or call (239) 851-3861 today.

Serving the Florida Keys from Key Largo to Key West and everywhere in-between like Tavernier, Plantation Key, Islamorada, Duck Key, Marathon, Big Pine Key, Summerland Key, and more! Ask us about Long Key, Upper Matecumbe, Lower Matecumbe, Hawks Cay, Key Colony, Key Colony Beach and Stock Island.