Newsroom

The Federal Housing Finance Agency House Price Index rose 1.3 percent during the first quarter of 2016, marking the 19th consecutive quarterly price increase for the index.

However, home price appreciation was somewhat less widespread than in recent quarters, according to FHFA Supervisory Economist Andrew Leventis.

House prices were up 5.7 percent from the first quarter of 2015, marking the fourth consecutive year in which prices grew more than 5 percent. The index is calculated with home sale prices from mortgages sold to or guaranteed by government-sponsored enterprises Fannie Mae and Freddie Mac.

"Twelve states and the District of Columbia saw price declines in the quarter – the most areas to see price depreciation since the fourth quarter of 2013. Although most declines were modest, such declines are notable given the pervasive and extraordinary appreciation we have been observing for many years," said Leventis.

For metropolitan areas, the annual price increases were highest in the West Palm Beach-Boca Raton-Delray Beach, Fla., region, where prices increased by 16.7 percent. The Pacific division saw the greatest increase of all census divisions, growing 8.1 percent since last year.

A NAFCU Macro Data Flash this week found that new-home sales increased 16.6 percent in April, marking the fastest sales pace since January 2008. The median new-home price, non-seasonally adjusted, increased to $321,100 in April – the highest median price ever on record.