Mortgage Daily Logo

East Leads Month-Over-Month Home Price Gains

Mortgage News

While the most-impressive year-over-year gains in residential property values have been on the West Coast, the East leads month-over-month appreciation.

At 241.3 as of November 2016, the U.S. purchase-only Federal Housing Finance Agency Home Price Index was 0.5 percent more than the prior month.

But more substantial
appreciation has taken place compared to the same month in 2015, with a 6.1 percent year-over-year rise reported by the regulator.

FHFA’s data is a seasonally adjusted and calculated based on home sales price information on loans acquired or guaranteed by Fannie Mae and Freddie Mac.

Home prices from October 2016 to November 2016 were up in the Pacific Region by 1.5 percent — more than any other region — FHFA reported. A less than 1 percent dip in the South Atlantic area was the worst month-over-month performance of nine total regions.

S&P Dow Jones Indices’ S&P CoreLogic Case-Shiller 20-City Index was 192 as of November 2016, creeping up less than a percent from a month earlier and expanding 5.3 percent from a year earlier.

Compared to the peak reached in July 2006, the 20-city index down 7 percent, while it is up 43 percent from the trough in March 2012.

The S&P CoreLogic Case-Shiller U.S. National Index, which covers all nine U.S. census divisions, was 185 during the most-recent month — a new peak based on data back to 27 years.

From November 2015 to November 2016, home prices in Seattle skyrocketed more than 10 percent — the most of any of the 20-largest metropolitan areas.
Close behind in the Case-Shiller report was Portland, with annual growth that also exceeded a 10th. After that was 8.7 percent in Denver and 8.1 percent in both Dallas and Tampa, Florida.

The weakest gain from a year previous was 2.4 percent in New York.

In November, Black Knight Financial Services’ HPI report
had current U.S. values averaging $267,000. That was a less than 1 percent increase from the previous month and a 5.7 percent improvement from the same month in the previous year.

Black Knight said home prices are within 1 percent of their June 2006 peak and more than a third higher than the January 2012 low.

Month-over-month price increases were led by the Northeast, according to Black Knight’s report.
Between October and November of last year, New York’s home prices were up 1.1 percent — the biggest increase. Next was New Jersey’s 0.9 percent, Tennessee’s 0.9 percent, Idaho’s 0.6 percent and Utah’s 0.5 percent.

With an 0.5 percent month-over-month decline, Wisconsin had the worst metric of any state.

Related Posts

Centex Home Equity Announces Name and Brand Change to National Mortgage, LLC

Third-Quarter 2012 Mortgage Litigation Index

Lawsuits involving excessive fees, servicing fees and loan fees beyond state maximums. Defendant Plaintiff Court Amount Overview Case Title Case Number Date Filed Date of Activity Link to Story Fannie Mae and Freddie Mac Orangeburg County, Richland County, South...

Centex Home Equity Announces Name and Brand Change to National Mortgage, LLC

Net Branch Lawsuits

Litigation involving net branch operations. Defendant Plaintiff Court Amount Overview Case Title Case Number Date Filed Date of Activity Link to Story PHH Mortgage Corp. Mathews Supreme Court of Virginia na Court held that the term "branch office" includes not only...

Centex Home Equity Announces Name and Brand Change to National Mortgage, LLC

Whistleblower Lawsuits

Litigation related to loan servicing, including escrow issues, transfer of servicing and servicing borrowers in bankruptcy and foreclosure.   Defendant Plaintiff Court Amount Overview Case Title Case Number Date Filed Date of Activity Link to Story Bank of...

Popular posts

How Long Does It Take to Refinance a Mortgage
How Long Does It Take to Refinance a Mortgage

So, you’re interested in refinancing your mortgage. Maybe you want some extra capital to do that home project you’ve always dreamed of, interest rates are nearing record lows, or you want to start consolidating debt. Regardless of the motivation behind the refinance,...

How Does Refinancing a Mortgage Work
How Does Refinancing a Mortgage Work

A home purchase is considered an investment, and a robust one at that. Savvy owners are constantly looking for new ways to reduce debt, save money, pay less in interest, and ultimately build equity. Refinancing is one way to leverage your investment and do just that....

What Does It Mean to Refinance Your Home
What Does It Mean to Refinance Your Home

You can think of refinancing your mortgage as a debt redo. Essentially, you’ll swap out the existing loan for a new one - ideally with better terms and conditions. Only this time it could help you save money on high mortgage payments, rather than just borrow it....

Setting up the Utilities in My New House
Setting up the Utilities in My New House

All the tedious, time-consuming paperwork has been signed, sealed, and delivered. Your belongings are packed into what seems like a million boxes and you have a solid plan to haul all your existing furniture to the new place. Just as your boxes and furniture need to...

When Is My First Mortgage Payment Due?
When Is My First Mortgage Payment Due?

Navigating your way through a brand-new mortgage loan can be a difficult task, especially for first-time homeowners.   After handing over a large sum of money for the down payment and closing costs, it’s important to pay attention to the timing of your first...

Newsletter

Don’t worry, we don’t spam