Tuesday, September 25, 2012
FHFA: Rocky Mountain region's home prices up almost 12 percent
House prices in June in the Mountain region, which includes Colorado, were up substantially, rising 11.9 percent, year-over-year from July 2011 to July 2012. Nationally, the house price index rose 3.7 percent over the same period. The new house price index numbers, released today by the Federal Housing and Finance Agency, also showed that the national index is down 15.2 percent from the peak level reached in June 2007, while the Mountain region's index is down 23.1 percent over the same period. The FHFA monthly index is calculated using purchase prices of houses purchased with loans that have been sold to or guaranteed by Fannie Mae or Freddie Mac. It is a repeat-sales index similar to the Case-Shiller index, but limited to GSE loans.