The average prices of single-family houses with mortgages guaranteed by Fannie Mae and Freddie Mac in the United States rose 0.1 percent from a month earlier in March 2019, easing from an upwardly revised 0.4 percent increase in February and below market expectations of a 0.2 percent gain. It was the smallest monthly increase in house prices since January 2017. Among Census divisions, rises in West North Central (1.1 percent); Middle Atlantic (0.8 percent); Mountain (0.7 percent); West South Central (0.3 percent) and South Atlantic (0.1 percent) were partly offset by declines in East North Central (-0.8 percent); East South Central (-0.4 percent) and New England (-0.6 percent). At the same time, prices were flat in the Pacific division. Year-on-year, house prices were up 4.9 percent, the same pace as in the previous month. Housing Index in the United States averaged 0.30 percent from 1991 until 2019, reaching an all time high of 1.20 percent in January of 2000 and a record low of -1.70 percent in November of 2008.
Housing Index in the United States is expected to be 0.20 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 0.10 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 2020, according to our econometric models.