Recently, the Federal Housing Finance Agency (FHFA) released the latest results of their Monthly house price index (HPI) showing that in May, nationally, home prices increased 0.39% from April rising 6.86% above the level seen in May 2016.

The FHFA monthly HPI are formulated from home purchase information collected from mortgages that have been sold to or guaranteed by Fannie Mae and Freddie Mac.