Q1 House Prices Up 1.9%

House prices rose 1.9% for Q1 2013, according to a Federal Housing Finance Agency (FHFA) report (link opens as PDF) released today. These newest numbers mark the seventh straight seasonally adjusted quarterly increase in home purchase prices.

Source: fhfa.gov 

"The housing market has stabilized in many areas and homebuilding activity has strengthened in recent quarters," noted FHFA Principal Economist Andrew Leventis in a statement today. "That said, labor market weakness and still-elevated foreclosure pipelines remain hindrances to a more robust recovery."

Compared to Q1 2012, home prices are 6.7% higher. On a month-to-month basis, March's numbers came in 1.3% above February's, outstripping analysts' estimates of a 0.9% bump . Prices also grew a seasonally adjusted 1.4% for Q4 2012.

Although improving home prices are a potentially positive sign for the market, many housing analysts have pointed to a "supply squeeze" that could create trouble down the road.

Commenting on untapped potential in the existing-homes market, National Association of Realtors Chief Economist Lawrence Yun stated yesterday, "The robust housing market recovery is occurring in spite of tight access to credit and limited inventory."


Read/Post Comments (0) | Recommend This Article (1)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

DocumentId: 2451134, ~/Articles/ArticleHandler.aspx, 7/25/2014 5:30:29 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement