New Home Sales Stats Delayed in Gov't Shutdown, Fannie Reports Higher Prices
Mortgage News Daily reports Fannie/Freddie Annual Prices Soften; New Home Sales Delayed
Home prices on the Federal Housing Finance Agency's (FHFA's) Housing Price Index (HPI) crept higher in October, although year over year appreciation slowed. FHFA, which remains open during the shutdown, released its data Thursday morning reflecting prices of homes purchases using financing from the GSEs Fannie Mae and Freddie Mac.
The Index gained 0.3 percent in October, a slight acceleration from the 0.2 percent increase in September. Prices rose in seven of the nine census districts with the greatest increases in the Pacific division at 1.4 percent and the West North Central at 1.1 percent. Prices in the South and Middle Atlantic districts declined by 0.6 percent and 0.2 percent respectively.
Year-over-year price gains decelerated from the previous month's 6.0 percent to 5.7 percent in October. All nine divisions posted positive numbers, ranging from 3.3 percent in the Middle Atlantic division to 8.5 percent in the Mountain division.
There is no word on how they will handle monthly stats. It likely depends on how long the shutdown lasts.
Mike "Mish" Shedlock