U.S. house prices were unchanged on a seasonally adjusted basis from October to November, according to the Federal Housing Finance Agency’s monthly House Price Index. The previously reported 0.7 percent increase in October was revised downward to a 0.2 percent increase. For the 12 months ending in November, U.S. prices fell 4.3 percent. The U.S. index is 14.9 percent below its April 2007 peak and roughly the same as the August 2004 index level. The FHFA monthly index is calculated using purchase prices of houses backing mortgages that have been sold to or guaranteed by Fannie Mae or Freddie Mac. For the nine Census Divisions, seasonally adjusted monthly price changes from October to November ranged from -1.9 percent in the Mountain Division to +1.3 percent in the West South Central Division.
