Home prices rose in 27 states during the fourth quarter as home values increased on GSE-related transactions during the final two months of 2011.
The Federal Housing Finance Agency reported that its home price index registered a 0.7% increase in December following a similar 0.7% gain in November.
Overall, the seasonally adjusted price index is down just 0.8% from December 2010.
On a quarterly basis, prices are down 2.4% from 4Q 2010.
“When coupled with the fact that about half of the states saw price increases in the latest quarter, this growth adds to mounting evidence that real estate markets are seeing at least some signs of life,” said FHFA principal economist Andrew Leventis.
When data involving REO sales financed with GSE loans is factored into the HPI, the FHFA report shows prices fell 2.9% in Q4 2011 from the year ago period.