Home Price Index
According the Federal Home Finance Agency's Home Price Index, home values are now just 12.5 percent off their April 2007 peak nationwide. This after a half-percent monthly increase in prices in May,on average.
Last week, the Case-Shiller Index reported home values up 0.8 percent across 20 tracked markets. The public-sector Federal Housing Finance Agency has reached a similar conclusion.
In reviewing the April Case-Shiller Index and its accompanying analysis, it appears that the housing market's rebound is gathering momentum.
Home values rose in March, according to the Federal Home Finance Agencyâ??s most recent Home Price Index. Values were reported higher by 0.3 percent, on average, from February.
Standard & Poors released its Case-Shiller Index Wednesday. The report shows that, on a seasonally-adjusted basis, between December and January, home prices rose in more than half of the index's tracked markets. The strength of this month's Case-Shiller report, however, should be put in context.
Home values fell again in January, according to the Federal Home Finance Agency's Home Price Index. Values were reported down 0.6 percent, on average. But it's hardly helpful information for buyers and sellers.