House prices rose 1.9% for Q1 2013, according to a Federal Housing Finance Agency (FHFA)report (link opens as PDF) released today. These newest numbers mark the seventh straight seasonally adjusted quarterly increase in home purchase prices.
“The housing market has stabilized in many areas and homebuilding activity has strengthened in recent quarters,” noted FHFA Principal Economist Andrew Leventis in a statement today. “That said, labor market weakness and still-elevated foreclosure pipelines remain hindrances to a more robust recovery.”
Compared to Q1 2012, home prices are 6.7% higher. On a month-to-month basis, March’s numbers came in 1.3% above February’s, outstripping analysts’ estimates of a 0.9% bump . Prices also grew a seasonally adjusted 1.4% for Q4 2012.
Q1 House Prices Up 1.9%.