U.S. FHFA home prices rise in November, likely to continue rising at steady pace in 2017

The U.S. FHFA purchase-only House Price index rose in November, coming in slightly above the market projections. The index was up 0.5 percent sequentially in November, as compared with consensus expectations of 0.4 percent. On a year-on-year basis, the house price index rose 6.1 percent, almost the same as registered at the turn of the year.

Prices were up in all the regional sub-components, except in West N. Central and South Atlantic where the prices dropped 0.1 percent and 0.2 percent respectively. The biggest rises were seen in New England and the Pacific where the prices rose 1.1 percent each.

Overall, the data is in line with trends in other home price indices, which indicate that annual home price appreciation stabilizing between 5 percent and 6 percent since 201 5. Home prices are expected to carry on rising at a stable pace into 2017, according to a Barclays research report.