US house prices annually jump 6.5% in Q4 of 2023

By Ovunc Kutlu

ISTANBUL (AA) - US house prices jumped 6.5% annually in the fourth quarter from the same period the previous year, the Federal Housing Finance Agency (FHFA) said Tuesday.

House prices were up 1.5% in the October-December period, compared to the third quarter, FHFA said in a statement.

"U.S. house prices increased modestly over the course of 2023," said Dr. Anju Vajja, the acting deputy director for FHFA’s Division of Research and Statistics. "However, the market showed signs of softening as house price appreciation was lower in the fourth quarter of the year than in the previous quarter."

The American states that saw the highest annual appreciation were Rhode Island with a gain of 15.1%, followed by Vermont at 13.3% and West Virginia at 12.4%.

The largest annual price increase in a metropolitan area was recorded in the Miami-Miami Beach-Kendall area in the state of Florida with a gain of 13.8% year-on-year.