24 May 2017
US: House prices rise 1.4% in first quarter
U.S. house prices rose 1.4 percent in the first quarter of 2017, announced the Federal Housing Finance Agency on Wednesday.
Key notes:
- House prices rose 6.0 percent from the first quarter of 2016 to the first quarter of 2017. FHFA's seasonally adjusted monthly index for March was up 0.6 percent from February
- Mortgage rates during the quarter remained slightly elevated relative to most of last year, but demand for homes remained very strong
- With housing inventories still languishing at extremely low levels, the strong demand led to another exceptionally large quarterly price increase