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FHFA House Price Index Rises 0.4 Percent in May

August 7, 2011


July 21, 2011 Stefanie Johnson (202) 414-6376

FHFA House Price Index Rises 0.4 Percent in May;
Second Consecutive Monthly Increase
Washington, DC – U.S. house prices rose 0.4 percent on a seasonally adjusted basis from
April to May, according to the Federal Housing Finance Agency’s monthly House Price Index.
The previously reported 0.8 percent increase in April was revised to a 0.2 percent increase. For
the 12 months ending in May, U.S. prices fell 6.3 percent. The U.S. index is 19.6 percent below
its April 2007 peak and roughly the same as the January 2004 index level.
The FHFA monthly index is calculated using purchase prices of houses backing mortgages that
have been sold to or guaranteed by Fannie Mae or Freddie Mac. For the nine Census Divisions,
seasonally adjusted monthly price changes from April to May ranged from -1.0 percent in the
West South Central Division to +2.0 percent in the Mountain Division.
Monthly index values and appreciation rate estimates for recent periods are provided in the
table and graphs on the following pages. Click here for complete historical data.
For detailed information concerning the monthly HPI, please see the HPI Frequently Asked
Questions (FAQ). The next release will be on August 24, 2011 and will include monthly HPI
data for June as well as for the second quarter of 2011. HPI release dates for 2012 are now
The Federal Housing Finance Agency regulates Fannie Mae, Freddie Mac and the 12 Federal Home Loan Banks.
These government-sponsored enterprises provide more than $5.7 trillion in funding for the U.S. mortgage markets
and financial institutions.States in Each Census Division
Pacific: Hawaii, Alaska, Washington, Oregon, California
Mountain: Montana, Idaho, Wyoming, Nevada, Utah, Colorado, Arizona, New
West North Central: North Dakota, South Dakota, Minnesota, Nebraska, Iowa, Kansas,
West South Central: Oklahoma, Arkansas, Texas, Louisiana
East North Central Michigan, Wisconsin, Illinois, Indiana, Ohio
East South Central: Kentucky, Tennessee, Mississippi, Alabama
New England: Maine, New Hampshire, Vermont, Massachusetts, Rhode Island,
Middle Atlantic: New York, New Jersey, Pennsylvania
South Atlantic: Delaware, Maryland, District of Columbia, Virginia, West Virginia,
North Carolina, South Carolina, Georgia, Florida

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