Prices rose modestly in the South and West, while remaining flat in the Midwest and Northeast.
The FHFA’s House Price Index (HPI) was published for May and it revealed an increase in house prices in the U.S. by 0.7%. This slight change was not the same for all parts of the country, while some saw a modest improvement in prices, others were entirely static.
In the South and West of the U.S., the May HPI displayed modest growth – encouraging news for these regions. Meanwhile the Midwest and Northeast were less fortunately, showing no increase at all. This could have been due to a number of market factors, such as the local economy or housing demand in a given location.
Keypoints:
• FHFA House Price Index for May
• U.S. house prices rise 0.7%, up from April
• Prices rise modestly in South and West
• Prices remain flat in Midwest and Northeast
You can read this full article at: https://www.housingwire.com/articles/home-prices-are-down-in-two-regions-from-last-year-fhfa/(subscription required)
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