Hello, my name is Will Doerner and I’m
a Supervisory Economist at FHFA. I’d like to share a few insights from
our House Price Index Report for the third quarter of 2018.
U.S. house prices rose 1.3 percent over the quarter and 6.3 percent over the
last four quarters. The strongest four- quarter gains were in the Mountain
division with Idaho, Nevada, Utah, and Colorado marking four of the top five
states. The other state, Washington, is close geographically. The weakest four-
quarter gains were almost identically low across three regions: New England,
Middle Atlantic, and the West South Central divisions, where annual price gains
hovered under 5 percent. And this is the second quarter that the West
South Central region has been at the bottom. Another interesting finding to
note is that house prices are decelerating both across regions of the
country and in two thirds of states. In the third quarter of 2017, 24 states had
slow downs. By the same period this year, 35 states showed weaker annual gains.
This does not mean that house prices are falling, but it does indicate that
quarterly gains are not as strong as in the past. Going forward, we will continue
to track market changes. For FHFA, I’m Will Doerner. Thanks for watching!