House prices in the United States rose by 0.4% in December compared to the previous month, the Federal Housing Finance Agency (FHFA) revealed in its report on Tuesday. In the fourth quarter of 2024, house prices increased by 4.5% year-on-year.
Among the nine census divisions, which all observed higher prices on a yearly basis, the Middle Atlantic division showed the biggest increase in the fourth quarter, climbing by 7.1% compared to the same quarter in the previous year, while the West South Central division had the smallest rise in prices in the reported quarter, advancing by 2.3% on an annual basis.
"US house prices grew at a slightly higher rate in the fourth quarter after three straight previous quarters of weaker appreciation," FHFA's Division of Research and Statistics Deputy Director Anju Vajja said and added that the "price growth accelerated during the quarter as the inventory of homes for sale tightened even further."
