House prices rose nearly 1% in April after a 1.6% increase in March, according to a house price index based on Fannie Mae and Freddie Mac purchase mortgage transactions.
The HPI published by the Federal Housing Finance Agency has edged up three consecutive months, including 0.8% in April. The seasonally adjusted FHFA HPI is 3% higher than in April 2011.
The FHFA tracks house prices in nine regions. Over the previous 12 months, prices are down in only two regions, New England (2.6%) and the mid-Atlantic (0.9%).
Prices in the Western Mountain states are up 6.5% since April 2011. The Mountain states include Montana, Idaho, Wyoming, Nevada, Utah, Colorado Arizona and New Mexico.