Housing prices across the U.S. were unchanged in January, according to the Federal Housing Finance Agency (FHFA) seasonally adjusted monthly House Price Index (HPI).
This is just the second month since early 2012 that the HPI has failed to increase. The other occurrence was in November, 2013. The previously reported December HPI increase of 0.4% was unrevised.
On a year-over-year basis -- from January 2016 to January 2017 -- house prices were up 5.7%.
The FHFA monthly HPI is calculated using home sales price information from mortgages sold to, or guaranteed by, Fannie Mae and Freddie Mac.
For the nine census divisions, seasonally adjusted monthly price changes from December, 2016 to January, 2017 ranged from -2.0% in the East South Central division to +0.6 percent in the Pacific division.
The 12-month changes were all positive, ranging from +3.5% in the East South Central division to +8.3% in the Mountain division.
The complete report may be found on the FHFA website