The average prices of single-family houses with mortgages guaranteed by Fannie Mae and Freddie Mac in the United States rose 0.4 percent month-over-month in November of 2018, following an upwardly revised 0.4 percent gain in October and higher than market expectations of a 0.2 percent increase. Monthly price changes ranged from -0.8 percent in the Pacific division to +1.1 percent in the South Atlantic division. Year-on-year, house prices went up 5.8 percent, after a 5.7 percent rise in the previous month. The 12-month changes were all positive, ranging from +4.5 percent in the West South Central division to +7.4 percent in the Mountain division. Housing Index in the United States averaged 0.30 percent from 1991 until 2018, reaching an all time high of 1.20 percent in January of 2000 and a record low of -1.80 percent in November of 2008.
Housing Index in the United States is expected to be 0.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Housing Index in the United States to stand at 0.30 in 12 months time. In the long-term, the United States House Price Index MoM Change is projected to trend around 0.50 percent in 2020, according to our econometric models.