The U.S. index is only 1.8 percent below its March 2007 peak
By Jeff Sorg, OnlineEd Blog, July 27, 2015
Washington, D.C. – U.S. house prices rose in May, up 0.4 percent on a seasonally adjusted basis from the previous month, according to the Federal Housing Finance Agency’s monthly House Price Index (HPI). The previously reported 0.3 percent change in April was revised upward to reflect a 0.4 percent change.
The Federal Housing Finance Agency calculates their Housing Price Index using home sales price information from mortgages sold to or guaranteed by Fannie Mae and Freddie Mac. From May 2014 to May 2015, house prices were up 5.7 percent. The U.S. index is 1.8 percent below its March 2007 peak and is roughly the same as the April 2006 index level.
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Jeff Sorg is a co-founder of OnlineEd®, an online real estate, mortgage broker, and vocational school founded in 1997, where he also serves as Chief Executive Officer, and School Director. Sorg holds vocational and post-secondary school instructor licenses in several states and has authored numerous real estate continuing education and pre-licensing courses and has been awarded the International Distance Education Certification Center’s CDEi Designation for distance education. Memberships include ARELLO (Association of Real Estate License Law Officials), the National Association of REALTORS®, Oregon Association of REALTORS®, and Portland Metro Association of REALTORS®. Awards and service include REALTOR® Emeritus in the National Association, Life Member award in Portland Metro Association and Chairperson of the Oregon Real Estate Forms Committee.
OnlineEd® provides real estate, mortgage broker, insurance, and contractor pre-license, post-license, continuing education, career enhancement, and professional development and designation courses over the Internet.