US House Prices

US home prices climbed 0.6 per cent on a seasonally adjusted basis from June, the Federal Housing Finance Agency said in a report from Washington Tuesday. The gain was 5.8 per cent from a year earlier.
The FHFA’s index is 1.1 per cent below its March 2007 peak and about the same as the November 2006 level.
The annual price increase was bigger than in July 2014, when prices rose 4.8 percent on a year-over-year basis. Gains accelerated in every region, oth- er than New England.
Prices climbed 9.4 per cent from a year earlier in the Mountain region, which includes Colorado, Arizona and Nevada, and 8.1 per cent in the Pacific, with states such as California, Oregon and Washington. The New England area — which includes Connecticut, New Hampshire and Massachusetts — had the smallest increase, at 2.1 per cent.
The gauge measures transactions for single-family properties financed with mortgages owned or securitized by Fannie Mae and Freddie Mac. It doesn’t provide specific prices. The median price of an existing single-family home was $235,500 in July, up 5.8 per- cent from a year earlier, according to the National Association of Realtors.