U.S. house prices rose 1.1 percent in the third quarter compared
with the second quarter, according to the Federal Housing Finance Agency’s
(FHFA) seasonally adjusted purchase-only house price index (HPI). The HPI is
calculated using home sales price information from Fannie Mae and Freddie Mac
mortgages. Seasonally adjusted house prices rose 4 percent year over year.
FHFA’s seasonally adjusted monthly index for September was up 0.2 percent from
While the national, purchase-only house price index rose 4 percent from the third quarter of 2011 to the third quarter of 2012, prices of other goods and services rose 1.5 percent over the same period. Accordingly, the inflation-adjusted price of homes rose approximately 2.5 percent over the latest year.