House Price Index (HPI) m/m reflects changes in US housing prices in the given month compared to the previous one. The indicator is a weighted index of repeat sales of single-family houses. It measures average price changes in repeat sales or refinancing of the same properties. The calculation includes data on mortgage deals involving secondary housing concluded by Fannie Mae and Freddie Mac (the largest mortgage agencies in the country). The calculation does not account for mortgages on properties financed by government-insured loans, as well as mortgage transactions on condominiums, cooperatives and multi-unit properties. The index is not adjusted for inflation.
For convenience, the 50 states are divided into nine census divisions: Pacific, Mountain, East North Central, East South Central, West North Central, West South Central, New England, Middle Atlantic and South Atlantic. In addition to the national index change, separate data are published for these nine divisions. Thus, HPI is a timely and accurate indicator of price trends in the housing market in different geographical regions of the country, with the widest coverage of information. That's why HPI differs from other housing market indicators.
Economists analyze the indicator to assess the activity in the housing market. It also serves as an analytical tool for measuring changes in mortgage rates, evaluating availability of houses in different regions and assessing the general inflation in the country.
The chart of the entire available history of the "United States House Price Index (HPI) m/m" macroeconomic indicator. The dashed line shows the forecast values of the economic indicator for the specified dates.
A significant deviation of a real value from a forecast one may cause a short-term strengthening or weakening of a national currency in the Forex market. The threshold values of the indicators signaling the approach of the critical state of the national (local) economy occupy a special place.
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