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Home Prices Still Growing at More than 5% Annually
Wednesday, January 22, 2020
The annual rate of home price
increases continued at a stable rate in November according to the Federal
Housing Finance Agency (FHFA), however there are indications of some acceleration
on a shorter-term basis. The FHFA's Housing Price Index (HPI) rose 4.9 percent
compared to November of 2018. The annual increase in October was 5.0 percent. On a monthly basis prices rose 0.2
percent from October; however, the 0.2 percent increase originally reported for
that month was boosted to 0.4 percent. It was the second month in a row that
FHFA has revised the prior month's number higher.
HPI was benchmarked
to 100 in January 1991. The November 2019 reading was 281.2.
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