Home price report that you should to know

The FHFA monthly HPI is calculated using home sales price information from mortgages sold to, or guaranteed by, Fannie Mae and Freddie Mac. Because of this, the selection excludes high-end homes bought with jumbo loans or cash sales.

For the nine census divisions, the East South Central division saw the least increase in home prices and in fact even saw a decrease of 0.6% from September. The Mountain division, however, increased the most month-over-month at 1.2%.

Annually, the Middle Atlantic division saw the lowest increase at 3.6%, while the Mountain division again led the way with an annual increase of 8.3%.

A report from the National Association of Realtors indicated the median existing-home price increased in October to $232,200, up 6% from last year’s $219,100.

“Based on the responses of title agents and real estate professionals and their relative preference for Donald Trump, it appears that the uncertainty created by increased regulation and the growing complexities of compliance have many title agents and real estate professionals believing that less regulation would be more beneficial to the housing market in the long run,” Fleming said.

Since President-elect Donald Trump won the election, confidence among real estate professionals could take a turn for the better if it follows the same pattern as other surveys such as consumer confidence or home builder confidence.

“Now that Donald Trump is the President-elect and we have more political certainty, the message of title agents and real estate professionals to the new administration is: provide more regulatory and compliance certainty and the housing market will benefit,” Fleming said.