U.S. Housing Market Sees Steady Price Rise in July
U.S. housing prices marked another increase in July, climbing 0.8% from the previous month, as reported by the Federal Housing Finance Agency (FHFA) in their latest House Price Index (HPI®). On a year-over-year comparison, prices witnessed a 4.6% surge from July 2022 to July 2023. Notably, the initially stated 0.3% increase for June underwent a revision, now indicating a 0.4% uptick.
Regional Breakdown Paints a Mixed Picture
Diving into the regional specifics, the nine census divisions showcased varied monthly price changes from June to July 2023. The East South Central division recorded the lowest rise with a marginal 0.1%, whereas both the Middle Atlantic and South Atlantic divisions stood out, each seeing an impressive 1.4% increase. When considering the broader 12-month spectrum, the New England…
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