{"id":69764,"date":"2018-03-23T09:19:03","date_gmt":"2018-03-23T14:19:03","guid":{"rendered":"http:\/\/news.medill.northwestern.edu\/chicago\/?p=69764"},"modified":"2018-03-23T09:19:03","modified_gmt":"2018-03-23T14:19:03","slug":"fhfa-house-price-index-up-0-8-percent-in-january","status":"publish","type":"post","link":"https:\/\/news.medill.northwestern.edu\/chicago\/fhfa-house-price-index-up-0-8-percent-in-january\/","title":{"rendered":"FHFA House Price Index up 0.8 percent in January"},"content":{"rendered":"

By Charlene Zhang<\/strong>
\nMedill Reports<\/em><\/p>\n

Single-family house prices rose in January 0.8 percent from December, according to the Federal Housing Finance Agency\u2019s seasonally adjusted House Price Index. The rise beat the forecast of a 0.4 percent increase.<\/p>\n

From January 2017 to January 2018, house prices rose 7.3 percent, also beating the forecast, of 6.5 percent.<\/p>\n

\u201cHome prices have been on an uptrend for a number of years now. The main reason is there are not a lot of inventories available for sale,\u201d said Tendayi Kapfidze, the chief economist at LendingTree, an online brokerage headquartered in North Carolina.<\/p>\n

Historical data suggest demand has been normal, but the shortage of supply has played a bigger impact in both new home and existing home markets, according to Kapfidze. He explained, \u201cHome builders haven\u2019t ramped up the production to the level of they were prior to the crisis. There were also difficulties of finding land; cities have regulations on specific types of house one can build.\u201d<\/p>\n

<\/p>\n

Among the nine census divisions. the largest increases were in the New England and Pacific divisions, each up 1.2 percent since December. The East North Central division including Wisconsin, Michigan, Illinois, Indiana, and Ohio ranked second with an increase of 1.1 percent.<\/p>\n

\u201cHome prices are much stronger in the big coastal cities: San Francisco, Seattle, New York, and other cities with appreciation are heavily related to tech industries,\u201d Kapfidze said.<\/p>\n

West South Central division was the only area to decrease, down 0.7 percent.<\/p>\n

\"Historical
Monthly House Price Index in January since 1991<\/figcaption><\/figure>\n

Historical data of the monthly House Price Index in January since 1991 suggests an index even higher than that in the financial crisis in 2008. However, \u201cthis does not suggest another possible crisis,\u201d Kapfidze stated.<\/p>\n

Drivers for house price appreciation are different now, he went on. \u201cWe do not have an excess of demand, coming from very lenient lending standards, aggressive financial products that were pushing people to home-buying, and also the euphoria around the housing market.\u201d<\/p>\n

Kapfidze concluded, \u201cPrices should continue to increase, and the economy is doing pretty well.\u201d<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

By Charlene Zhang Medill Reports Single-family house prices rose in January 0.8 percent from December, according to the Federal Housing Finance Agency\u2019s seasonally adjusted House Price Index. The rise beat the forecast of a 0.4 percent increase. From January 2017 to January 2018, house prices rose 7.3 percent, also beating the forecast, of 6.5 percent. […]<\/p>\n","protected":false},"author":439,"featured_media":69768,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27,3987],"tags":[],"class_list":["post-69764","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-winter-2018"],"yoast_head":"\nFHFA House Price Index up 0.8 percent in January - Medill Reports Chicago<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/news.medill.northwestern.edu\/chicago\/fhfa-house-price-index-up-0-8-percent-in-january\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FHFA House Price Index up 0.8 percent in January - Medill Reports Chicago\" \/>\n<meta property=\"og:description\" content=\"By Charlene Zhang Medill Reports Single-family house prices rose in January 0.8 percent from December, according to the Federal Housing Finance Agency\u2019s seasonally adjusted House Price Index. The rise beat the forecast of a 0.4 percent increase. From January 2017 to January 2018, house prices rose 7.3 percent, also beating the forecast, of 6.5 percent. […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/news.medill.northwestern.edu\/chicago\/fhfa-house-price-index-up-0-8-percent-in-january\/\" \/>\n<meta property=\"og:site_name\" content=\"Medill Reports Chicago\" \/>\n<meta property=\"article:published_time\" content=\"2018-03-23T14:19:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/news.medill.northwestern.edu\/chicago\/wp-content\/uploads\/sites\/3\/2018\/03\/feature-photo-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1600\" \/>\n\t<meta property=\"og:image:height\" content=\"1067\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"xialiangzhang2017\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"xialiangzhang2017\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/news.medill.northwestern.edu\/chicago\/fhfa-house-price-index-up-0-8-percent-in-january\/\",\"url\":\"https:\/\/news.medill.northwestern.edu\/chicago\/fhfa-house-price-index-up-0-8-percent-in-january\/\",\"name\":\"FHFA House Price Index up 0.8 percent in January - Medill Reports Chicago\",\"isPartOf\":{\"@id\":\"https:\/\/news.medill.northwestern.edu\/chicago\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/news.medill.northwestern.edu\/chicago\/fhfa-house-price-index-up-0-8-percent-in-january\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/news.medill.northwestern.edu\/chicago\/fhfa-house-price-index-up-0-8-percent-in-january\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/news.medill.northwestern.edu\/chicago\/wp-content\/uploads\/sites\/3\/2018\/03\/feature-photo-1.jpg\",\"datePublished\":\"2018-03-23T14:19:03+00:00\",\"author\":{\"@id\":\"https:\/\/news.medill.northwestern.edu\/chicago\/#\/schema\/person\/f35487b66f2dc137bfd73ca7c7865ddd\"},\"breadcrumb\":{\"@id\":\"https:\/\/news.medill.northwestern.edu\/chicago\/fhfa-house-price-index-up-0-8-percent-in-january\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/news.medill.northwestern.edu\/chicago\/fhfa-house-price-index-up-0-8-percent-in-january\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/news.medill.northwestern.edu\/chicago\/fhfa-house-price-index-up-0-8-percent-in-january\/#primaryimage\",\"url\":\"https:\/\/news.medill.northwestern.edu\/chicago\/wp-content\/uploads\/sites\/3\/2018\/03\/feature-photo-1.jpg\",\"contentUrl\":\"https:\/\/news.medill.northwestern.edu\/chicago\/wp-content\/uploads\/sites\/3\/2018\/03\/feature-photo-1.jpg\",\"width\":1600,\"height\":1067,\"caption\":\"Home for sale\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/news.medill.northwestern.edu\/chicago\/fhfa-house-price-index-up-0-8-percent-in-january\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/news.medill.northwestern.edu\/chicago\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"FHFA House Price Index up 0.8 percent in January\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/news.medill.northwestern.edu\/chicago\/#website\",\"url\":\"https:\/\/news.medill.northwestern.edu\/chicago\/\",\"name\":\"Medill Reports Chicago\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/news.medill.northwestern.edu\/chicago\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/news.medill.northwestern.edu\/chicago\/#\/schema\/person\/f35487b66f2dc137bfd73ca7c7865ddd\",\"name\":\"xialiangzhang2017\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/news.medill.northwestern.edu\/chicago\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/0ed892c17675dd906af113f1c1b7ba4a13c2c69cab7cd1ddc6bd5adaabfc3046?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/0ed892c17675dd906af113f1c1b7ba4a13c2c69cab7cd1ddc6bd5adaabfc3046?s=96&d=mm&r=g\",\"caption\":\"xialiangzhang2017\"},\"url\":\"https:\/\/news.medill.northwestern.edu\/chicago\/author\/xialiangzhang2017\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"FHFA House Price Index up 0.8 percent in January - Medill Reports Chicago","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/news.medill.northwestern.edu\/chicago\/fhfa-house-price-index-up-0-8-percent-in-january\/","og_locale":"en_US","og_type":"article","og_title":"FHFA House Price Index up 0.8 percent in January - Medill Reports Chicago","og_description":"By Charlene Zhang Medill Reports Single-family house prices rose in January 0.8 percent from December, according to the Federal Housing Finance Agency\u2019s seasonally adjusted House Price Index. The rise beat the forecast of a 0.4 percent increase. From January 2017 to January 2018, house prices rose 7.3 percent, also beating the forecast, of 6.5 percent. […]","og_url":"https:\/\/news.medill.northwestern.edu\/chicago\/fhfa-house-price-index-up-0-8-percent-in-january\/","og_site_name":"Medill Reports Chicago","article_published_time":"2018-03-23T14:19:03+00:00","og_image":[{"width":1600,"height":1067,"url":"https:\/\/news.medill.northwestern.edu\/chicago\/wp-content\/uploads\/sites\/3\/2018\/03\/feature-photo-1.jpg","type":"image\/jpeg"}],"author":"xialiangzhang2017","twitter_card":"summary_large_image","twitter_misc":{"Written by":"xialiangzhang2017","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/news.medill.northwestern.edu\/chicago\/fhfa-house-price-index-up-0-8-percent-in-january\/","url":"https:\/\/news.medill.northwestern.edu\/chicago\/fhfa-house-price-index-up-0-8-percent-in-january\/","name":"FHFA House Price Index up 0.8 percent in January - Medill Reports Chicago","isPartOf":{"@id":"https:\/\/news.medill.northwestern.edu\/chicago\/#website"},"primaryImageOfPage":{"@id":"https:\/\/news.medill.northwestern.edu\/chicago\/fhfa-house-price-index-up-0-8-percent-in-january\/#primaryimage"},"image":{"@id":"https:\/\/news.medill.northwestern.edu\/chicago\/fhfa-house-price-index-up-0-8-percent-in-january\/#primaryimage"},"thumbnailUrl":"https:\/\/news.medill.northwestern.edu\/chicago\/wp-content\/uploads\/sites\/3\/2018\/03\/feature-photo-1.jpg","datePublished":"2018-03-23T14:19:03+00:00","author":{"@id":"https:\/\/news.medill.northwestern.edu\/chicago\/#\/schema\/person\/f35487b66f2dc137bfd73ca7c7865ddd"},"breadcrumb":{"@id":"https:\/\/news.medill.northwestern.edu\/chicago\/fhfa-house-price-index-up-0-8-percent-in-january\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/news.medill.northwestern.edu\/chicago\/fhfa-house-price-index-up-0-8-percent-in-january\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/news.medill.northwestern.edu\/chicago\/fhfa-house-price-index-up-0-8-percent-in-january\/#primaryimage","url":"https:\/\/news.medill.northwestern.edu\/chicago\/wp-content\/uploads\/sites\/3\/2018\/03\/feature-photo-1.jpg","contentUrl":"https:\/\/news.medill.northwestern.edu\/chicago\/wp-content\/uploads\/sites\/3\/2018\/03\/feature-photo-1.jpg","width":1600,"height":1067,"caption":"Home for sale"},{"@type":"BreadcrumbList","@id":"https:\/\/news.medill.northwestern.edu\/chicago\/fhfa-house-price-index-up-0-8-percent-in-january\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/news.medill.northwestern.edu\/chicago\/"},{"@type":"ListItem","position":2,"name":"FHFA House Price Index up 0.8 percent in January"}]},{"@type":"WebSite","@id":"https:\/\/news.medill.northwestern.edu\/chicago\/#website","url":"https:\/\/news.medill.northwestern.edu\/chicago\/","name":"Medill Reports Chicago","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/news.medill.northwestern.edu\/chicago\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/news.medill.northwestern.edu\/chicago\/#\/schema\/person\/f35487b66f2dc137bfd73ca7c7865ddd","name":"xialiangzhang2017","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/news.medill.northwestern.edu\/chicago\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/0ed892c17675dd906af113f1c1b7ba4a13c2c69cab7cd1ddc6bd5adaabfc3046?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/0ed892c17675dd906af113f1c1b7ba4a13c2c69cab7cd1ddc6bd5adaabfc3046?s=96&d=mm&r=g","caption":"xialiangzhang2017"},"url":"https:\/\/news.medill.northwestern.edu\/chicago\/author\/xialiangzhang2017\/"}]}},"_links":{"self":[{"href":"https:\/\/news.medill.northwestern.edu\/chicago\/wp-json\/wp\/v2\/posts\/69764","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/news.medill.northwestern.edu\/chicago\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.medill.northwestern.edu\/chicago\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.medill.northwestern.edu\/chicago\/wp-json\/wp\/v2\/users\/439"}],"replies":[{"embeddable":true,"href":"https:\/\/news.medill.northwestern.edu\/chicago\/wp-json\/wp\/v2\/comments?post=69764"}],"version-history":[{"count":0,"href":"https:\/\/news.medill.northwestern.edu\/chicago\/wp-json\/wp\/v2\/posts\/69764\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.medill.northwestern.edu\/chicago\/wp-json\/wp\/v2\/media\/69768"}],"wp:attachment":[{"href":"https:\/\/news.medill.northwestern.edu\/chicago\/wp-json\/wp\/v2\/media?parent=69764"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.medill.northwestern.edu\/chicago\/wp-json\/wp\/v2\/categories?post=69764"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.medill.northwestern.edu\/chicago\/wp-json\/wp\/v2\/tags?post=69764"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}