U.S. Home Prices Up Modestly In May

0 Shares

WASHINGTON (UPI) — A U.S. home price index rose 0.7 percent April to May, the Federal Housing Finance Agency said Tuesday.

The agency said home prices rose 7.3 percent on a 12-month basis in February but remain 11.2 percent below their peak, which came in April 2007.

Prices for homes in the United States are approximately the same level as January 2005, said the agency, which keeps track of prices of homes with mortgages backed by either the Federal National Mortgage Association or the Federal Home Loan Mortgage Corp., better known as Freddie Mac and Fannie Mae.

Among the nine census divisions, prices rose fastest in May in the South Atlantic division, gaining 1.8 percent. From April, prices dropped most in the East South Central division, where prices declined 1.5 percent.

Over 12 months, prices are up 2.7 percent in the East South Central division, the lowest regional gain, to 15.8 percent in the Pacific division, the highest regional gain.

UPI - United Press International, Inc.

Since 1907, United Press International (UPI) has been a leading provider of critical information to media outlets, businesses, governments and researchers worldwide.

Join the Discussion

Comment Policy: We encourage an open discussion with a wide range of viewpoints, even extreme ones, but we will not tolerate racism, profanity or slanderous comments toward the author(s) or comment participants. Make your case passionately, but civilly. Please don't stoop to name calling. We use filters for spam protection. If your comment does not appear, it is likely because it violates the above policy or contains links or language typical of spam. We reserve the right to remove comments at our discretion.