Florida home values are up 8.53%

August 31, 2018 12:55 pm

Florida home values are up 8.53% in the year to the second quarter of 2018, new figures show.

It was the seventh highest state increase, according to the Federal Housing Finance Agency (FHFA) House Price Index (HPI).

In contrast, the average rise across the United States was 6.5% during the same period.

Florida home values up 0.2% from May-June

Florida home values rose 1.1% from April-June 2018 and FHFA’s seasonally adjusted monthly index rose 0.2% from May-June.

The HPI is calculated using home sales price information from mortgages sold to, or guaranteed by, Fannie Mae and Freddie Mac indexes.

Supervisory Economist, Dr. William Doerner, says, “Home prices rose in the second quarter but at a slower pace than we have seen for the past four years.

“Mortgage rates have increased by more than half a percentage point over the first six months of the year. Rates are still inexpensive from a historical standpoint, but their bump-up appears to have gently pressed the brakes on house price increases.”

Home prices rose in all 50 states and the District of Columbia between the second quarter of 2017 and the second quarter of 2018. Values in Florida were xx

Home prices rose in 99 of the 100 largest metropolitan areas in the U.S. over the last four quarters.

FHFA’s HPI tracks changes in home values for individual properties owned or guaranteed by Fannie Mae or Freddie Mac. It has operated over the past 43 years using more than eight million repeat transactions. The “repeat-transactions” methodology constructs index estimates by statistically evaluating price appreciation (or depreciation) for homes with multiple values over time.

Source: https://www.fhfa.gov/DataTools/Downloads/Pages/House-Price-Index.aspx