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Home Price Gains Defied The Odds in April
Wednesday, June 24, 2020
House prices continued to be unfazed by the current economic upheaval. The
Federal Housing Finance Agency (FHFA) reports that its U.S. House Price Index
for April, the first full month that reflects the impact of the pandemic, continued
to rise almost unabated. The index increased by 0.2 percent from March compared to a 0.1 percent
increase from February to March. On an annual basis the index rose 5.5 percent,
down slightly from the 5.7 percent gain in both February and March. Prices did decline from March in two of the nine census divisions, New England
was down 0.2 percent and the South Atlantic was off by 0.5 percent. The index
in both the Pacific and Mountain regions were unchanged. Gains elsewhere were
topped by an 0.8 percent increase in the West South Central division. The
12-month changes were all positive, ranging from 5.0 percent in the Middle Atlantic
division to 6.8 percent
in the Mountain division.
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