The average prices of single-family houses with mortgages guaranteed by Fannie Mae and Freddie Mac in the United States increased 0.3 percent month-over-month in December of 2018, below a 0.4 percent gain in November and in line with market expectations. Monthly price changes ranged from -0.3 percent in the East South Central division to +0.8 percent in the New England division. Year-on-year, house prices went up 5.6 percent, after an upwardly revised 5.9 percent rise in the previous month. The 12-month changes were all positive, ranging from +4.0 percent in the West South Central division to +7.7 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 -1.70 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.