US House Prices Annually Up 6.3% In January

US house prices rose 6.3% annually in January from the same period of last year, the Federal Housing Finance Agency (FHFA) said Tuesday.

House prices, however, were down 0.1% in January compared to the previous month, FHFA said in a statement.

"U.S. house prices declined slightly in January, marking the first decrease since August 2022," said Anju Vajja, acting deputy director for FHFA's Division of Research and Statistics. "However, the year-over-year house price growth remained near the historical average."

The South Atlantic division, which spans the states of Delaware and Maryland in the north to Georgia and Florida in the south, showed a 0.6% monthly drop in January. -