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Financial News: U.S. House Prices Fall For First Time Since

U.S. House Prices Fall For First Time Since August 2022 - FHFA

03/26/2024 - 12:12:00 (RTTNews)

(RTTNews) - U.S. house prices declined on a month-on-month basis in January for the first time in nearly one-and-a-half years, defying expectations for an increase, data from the Federal Housing Finance Agency (FHFA) showed Tuesday.

House prices fell a seasonally adjusted 0.1 percent from December, when they rose 0.1 percent. Economists had expected a 0.2 percent gain for January.

On a year-on-year basis, house prices rose 6.3 percent in January.

"U.S. house prices declined slightly in January, marking the first decrease since August 2022," Anju Vajja, deputy director for FHFA's Division of Research and Statistics, said.

"However, the year-over-year house price growth remained near the historical average."

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