Home prices on the Federal Housing Finance Agency’s
(FHFA’s) Housing Price Index (HPI) crept higher in October, although year over
year appreciation slowed. FHFA, which remains open during the shutdown,
released its data Thursday morning reflecting prices of homes purchases using
financing from the GSEs Fannie Mae and Freddie Mac.
The Index gained 0.3 percent in October, a slight
acceleration from the 0.2 percent increase in September. Prices rose in seven
of the nine census districts with the greatest increases in the Pacific
division at 1.4 percent and the West North Central at 1.1 percent. Prices in
the South and Middle Atlantic districts declined by 0.6 percent and 0.2 percent
Year-over-year price gains decelerated from the
previous month’s 6.0 percent to 5.7 percent in October. All nine divisions
posted positive numbers, ranging from 3.3 percent in
the Middle Atlantic division to 8.5 percent in the Mountain division.
The FHFA HPI was benchmarked to 100 in
January 1991. The September 2018 index reading was 267.9.
The report on new home sales scheduled for
release by the U.S. Census Bureau and the Department of Housing and Urban
Development has been delayed by the shutdown. There is no information about the
new release date.