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U.S. house prices rose 1.4 percent in the fourth quarter of 2015 according to the Federal Housing Finance Agency (FHFA) House Price Index (HPI). This is the eighteenth consecutive quarterly price increase in the purchase-only, seasonally adjusted index. House prices rose 5.8 percent from the fourth quarter of 2014 to the fourth quarter of 2015. FHFA's seasonally adjusted monthly index for December was up 0.4 percent from November.
The HPI is calculated using home sales price information from mortgages sold to, or guaranteed by, Fannie Mae and Freddie Mac. FHFA has produced a video of highlights for this quarter.
"Instability in financial markets did not seem to put much of a drag on home prices in the fourth quarter," said FHFA Supervisory Economist Andrew Leventis. "The fourth quarter 1.4 percent increase for the U.S. was in line with the extremely steady—but historically elevated—appreciation rates we have been observing for several years now," Leventis said.
While the purchase-only HPI rose 5.8 percent from the fourth quarter of 2014 to the fourth quarter of 2015, prices of other goods and services fell 0.8 percent. The inflation-adjusted price of homes rose approximately 6.7 percent over the latest year.
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