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U.S. house prices show signs of slowing in February

English.news.cn   2014-04-23 07:17:24

WASHINGTON, April 22 (Xinhua) -- U.S. house prices remained on an upward track in February while growing speed has slowed down to the lowest level in a year on an annual basis, the Federal Housing Finance Agency (FHFA) reported Tuesday.

U.S. house prices increased 0.6 percent on a seasonally adjusted basis from the previous month, according to the FHFA's monthly House Price Index, higher than the 0.4 percent average estimate of economists.

However, compared with the same period of 2013, the house prices only increased 6.9 percent in February, the slowest gain since January 2013, according to the data of FHFA. The agency also revised down the growth rate of house prices in January from previous 0.5 percent to 0.4 percent.

For the nine census divisions, six divisions have witnessed price up compared with last month, one division kept the same, while the other two fell. House prices in the East England division fell the most by 2.5 percent compared with January.

On an annual basis, house prices in all nine census divisions increased, as prices of the Pacific area, including Hawaii, Alaska, Washington, Oregon and California, climbed the most by 14.3 percent.

The FHFA measured changes in real estate values using purchases of properties with mortgages backed by Fannie Mae or Freddie Mac. It did not provide a specific price for houses.

Editor: chengyang
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