U.S. house prices rose 1.5 percent in the third quarter of 2016 compared with the previous year, according to the Federal Housing Finance Agency (FHFA) House Price Index (HPI). FHFA's seasonally adjusted monthly index for September was up 0.6 percent from August.  The HPI is calculated using home sales price information from mortgages sold to, or guaranteed by, Fannie Mae and Freddie Mac.

"Our data indicate that the deceleration in home price growth that we observed in late spring proved to be short-lived," said FHFA Supervisory Economist Andrew Leventis.  "While price growth in select markets has cooled somewhat, for the U.S. as a whole, the third quarter showed no evidence of a widespread slowdown."

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