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U.S. home prices climbed 5 percent year-over-year in the second quarter of 2019, according to the latest data released Tuesday by the Federal Housing Finance Agency (FHFA). Prices rose just one percent from the first quarter to the second quarter of 2019 and 0.2 percent from May to June.
Prices rose in every state and the District of Columbia, with the biggest gains coming in Idaho at 11.4 percent, Utah at 7.7 percent and Tennesse at 7.2 percent. Delaware, Maryland and Washington D.C. saw the smallest gains, all reporting year-over-year price appreciation of less than 2 percent.
Prices also rose in all of the 100 largest metro area in the U.S., year-over-year. Increases were greatest in Boise, Idaho at 13.6 percent and weakest in Oxnard-Thousand Oaks-Ventura, California at just 0.5 percent.
FHFA’s home price index measures changes in single-family house prices, using a weighted, repeat-sales statistical technique to analyze transaction data from Fannie Mae and Freddie Mac.
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