Federal Housing Finance Agency Says Home Prices Rebound

Home price appreciation made a comeback according to FHFA with a 0.5 percent gain in August, following rise of 0.2 percent in July. August posted above market expectations for a 0.3 percent gain. The year-ago rate firmed to 4.8 percent from 4.6 percent in July.

Regionally, seven Census regions reported gains in August while two declined.

So far this week, housing is showing some recent improvement with existing home sales up and home prices picking up the pace somewhat. The next report on housing is for new home sales on Friday.

Recent History Of This Indicator:
The FHFA purchase only house price index decelerated with a rise of 0.1 percent in July, following a 0.3 percent advance the month before. The year-ago rate continued to slow, easing to 4.4 percent from 5.1 percent in June. These numbers compare to a recovery high in July 2013 of 8.5 percent.