US home prices rise as expected in January
Home prices in the States edged higher in January led by increases in the Northwest and Southeast.
The Federal Housing Finance Agency´s monthly house price index increased by 0.5% month-on-month in January to reach 230.7, alongside roughly offsetting revisions to the readings for the prior two months.
Economists had pencilled in a rise of 0.5%.
In comparison to a year ago, house prices were 6.0% higher.
Of the FHFA´s nine census divisions, the sharpest gains were seen in West North Central and South Atlantic, where prices rose by 1.2% and 1.7% month-on-month.
The Middle Atlantic region was the only one to suffer a decline, with prices retreating by 1.0%.
