More signs emerged over the fall that the economy continues to heat up, not the least of which in the housing industry.
Figures released Wednesday by the Federal Housing Finance Agency showed U.S. house prices rose in November by 0.4% from the previous month. The previously reported 0.5% increase in the Housing Price Index (HPI) for October was revised upward to 0.6%.
The FHFA monthly HPI is calculated using home sales price information from mortgages sold to, or guaranteed by, Fannie Mae and Freddie Mac. From November 2016 to November 2017, house prices were up 6.5%.
For the nine census divisions, seasonally adjusted monthly price changes from October 2017 to November 2017 ranged from -1.1% in the East South Central division to +0.9% in the West North Central division. The 12-month changes were all positive, ranging from +4.2% in the Middle Atlantic division to +8.9% in the Mountain division.
