The U.S. FHFA home prices moderated in June; however, the year-on-year change continues to be stable. The FHFA purchase-only House Price Index rose 0.1 percent sequentially in June, coming in below the consensus forecast of 0.5 percent rise.
The year-on-year growth in the index edged lower to 6.5 percent. However, it continues to be widely consistent with the recent trend in other widespread home price measures. Region wise, six areas out of nine recorded a rise in home prices.
The largest rises were seen in the East S. Central and Pacific regions. Meanwhile, modest price declines were recorded in West S, Central, East N. Central and South Atlantic regions.
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