On February 23, 2017, The Federal Housing Finance Agency (FHFA) announced that the U.S. house price were higher 1.5% in the 4th quarter of 2016 from 3rd quarter of 2016, and gained 6.2% from 4th Quarter of 2015 based on home sales values obtained from mortgages sold to or guaranteed by FNMA and Freddie Mac.
Nationwide, among nine census Mountain Division was highest with a gain of 2.1%, and Middle Atlantic Division had lowest with an increase of 0.9% in the 4th quarter of 2016 from 3rd quarter of 2016; while the Mountain Division had the highest jump of 8.0% in the 4th quarter of 2016 from 4th quarter of 2015.
FHFA Supervisory Economist Andrew Leventis, stated “Although it will certainly take more time for the full effects of the elevated interest rates to be felt, there is no evidence of a normalization in the unusually low inventories of homes available for sale, which has been the primary force behind the extraordinary price gains.”
For complete more detailed information about the FHFA’s home price index for 4th quarter of 2016, please CLICK HERE
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