Exterior of office building FHFA headquarters in Washington, DC. (Photo: SmithGroupJJR)

WASHINGTON, DC—In keeping with the National Association of Realtors’ characterization last week of home supply as “pitiful,” the Federal Housing Finance Agency on Tuesday cited “tight inventory” as a key factor in the second quarter’s increases in single-family home prices. Prices rose 1.6% in Q2 from the previous quarter, while rising 6.6% year over year. That’s consonant with NAR’s Q2 data on price increases.

Forty-eight states and the District of Columbia saw Y-O-Y housing price increases, according to FHFA. The top five states in annual appreciation were Washington with 12.4%; Colorado, 10.4%; Idaho, 10.3%; Florida, 9.4%; and Utah, 9.2%. Washington State’s lead also extended to price gains among metro areas, with Seattle seeing a 15.7% increase Y-O-Y.

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Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.

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