The government is confirming what the private sector has already shown — home values are on the rise.
The government is confirming what the private sector has already shown — home values are on the rise.
A strong spring season helped home values recover, says the government. According to the Federal Home Finance Agency’s Home Price Index, home prices rose a seasonally-adjusted 0.4 percent from April to May.
The Federal Home Finance Agency data had home values down 1.6 percent nationwide in February, on average, marking the fourth straight month in which prices fell.
As a home buyer and/or homeowner, should you put your faith in Case-Shiller’s results, or the Home Price Index. Perhaps, the answer is neither.
Standard & Poors released its Case-Shiller Index Wednesday. The report shows that, on a seasonally-adjusted basis, between December and January, home prices rose in more than half of the index’s tracked markets. The strength of this month’s Case-Shiller report, however, should be put in context.
Home values fell again in January, according to the Federal Home Finance Agency’s Home Price Index. Values were reported down 0.6 percent, on average. But it’s hardly helpful information for buyers and sellers.
Publishing on a 2-month lag, the Federal Home Finance Agency said home prices fell by 1.6 percent nationally in December. And that’s an average, of course. Some regions performed well in December as compared to November, others didn’t.