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Hurricane Effect; New Sales Soften; Prices Finally Turning?

Hurricane Effect; New Sales Soften; Prices Finally Turning?

Home prices for purchases financed by Fannie Mae and Freddie Mac appreciated at an 0.2 percent rate during June, and the estimate for May was increased from the 0.2 percent originally reported to 0.4 percent. It also appears that April's gain, which was revised last month from 0.1 percent to 0.2 percent has been revised again, up another 0.1 point. The Federal Housing Finance Agency, regulator and conservator for the GSEs, reported that home prices rose 6.5 percent compared to their Housing Price Index (HPI) for June 2017. Prices were up month-over-month in seven of the nine census regions , ranging from 0.1 percent in the West South Central division to 0.7 percent in the Mountain division. Those two states also posted the smallest and the largest year-over-year changes, 5.0 and 9.5 percent
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