| Title: | OFHEO House Price Index Shows Smallest Quarterly Increase Since 1994 |
| Source: | OFHEO |
| Date: | 8/30/2007 |
|  Related Document(s): |
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Summary:
WASHINGTON, DC – U.S. home prices increased only slightly in the second quarter of 2007 according to the OFHEO House Price
Index (HPI). The HPI, which is based on data from sales and refinance transactions, was 0.1 percent higher in the second quarter
than in the first quarter of 2007. This is below the revised growth rate of 0.6 percent for the previous quarter and the lowest
since the fourth quarter of 1994. Prices in the second quarter of 2007 were 3.2 percent higher than they were in the same
quarter of 2006, the lowest annual price change since the 1996-97 period.
OFHEO’s purchase-only index, based solely on purchase price data, indicates less appreciation for U.S. houses over the past
year than does the all transactions HPI. The purchase-only index increased 2.6 percent between the second quarter of 2006
and the second quarter of 2007, compared with 3.2 percent for the HPI. However, for the second quarter, the purchase-only
index increase was slightly higher at 0.5 percent (seasonally-adjusted).
Please select the Related Document to view OFHEO's Report.