FHFA: US house prices down 0.1% in December - Breaking The News

FHFA: US house prices down 0.1% in December

28 February

1 min read

EPA-EFE/TANNEN MAURY

The seasonally adjusted monthly index for house prices in the United States declined 0.1% in December compared to the previous month, the Federal Housing Finance Agency (FHFA) said on Tuesday. The decline was smaller than expected.

House prices jumped 8.4% in the fourth quarter compared to the corresponding trimester in 2021 and were up 0.3% from the third quarter.

"House price appreciation continued to wane in the fourth quarter," Nataliya Polkovnichenko, supervisory economist at FHFA, stated. "House prices grew at a much slower pace in recent quarters amid higher mortgage rates and a decline in mortgage applications. These negative pressures were partially offset by historically low inventory," she added.

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