The average prices of single-family houses with mortgages guaranteed by Fannie Mae and Freddie Mac in the United States jumped 1 percent from a month earlier in July 2020, the same as an upwardly revised 1 percent rise in June. It is the biggest gain since March of 2013, with prices ranging from +0.6 percent in the West North Central division to +2.0 percent in the New England division. Between May and July 2020, prices increased by over 2 percent, which represents the largest two-month price increase observed since the start of the index in 1991. The housing market has been recovering as record-low mortgage rates continue to boost demand for new homes and many people move away from the big cities due to the coronavirus pandemic. Year-on-year, housing prices went up 6.5 percent.
Housing Index in the United States averaged 0.31 percent from 1991 until 2020, reaching an all time high of 1.20 percent in January of 2000 and a record low of -1.80 percent in November of 2008. This page provides the latest reported value for - United States House Price Index MoM Change - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United States House Price Index MoM Change - data, historical chart, forecasts and calendar of releases - was last updated on October of 2020. source: Federal Housing Finance Agency
Housing Index in the United States is expected to be 0.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Housing Index in the United States to stand at 0.50 in 12 months time. In the long-term, the United States House Price Index MoM Change is projected to trend around 0.30 percent in 2021, according to our econometric models.