The Federal Savings Bank Federal Savings Bank is veteran - owned bank, with a focus on VA and FHA lending for active duty and retired military and first time home buyers. We believe we offer the Perfect Mortgage Experience, which is our unique combination of outstanding customer service, low mortgage rates, and fast closings. We call it the Perfect Mortgage Experience because for 20 years that’s how our customers have come to know and refer us.
300 N. Elizabeth Street #3E


Home Price Index rises in January

Home Price Index rises in January
Click Image to view larger

As the housing market improves steadily, the CoreLogic Home Price Index has also increased, according to the most recently released numbers.

CoreLogic is one of the leading residential property information, analytics and services providers and revealed the figures of its Home Price Index, which showed a 9.7 percent year-over-year increase during January in comparison to the same month last year. The jump was the most significant increase since April 2006 and the 11th straight monthly increases in home prices nationally.

With home prices steadily increasing every month, more first-time homebuyers might be in a rush to purchase a home before the cost is out of their range.

"The HPI showed strong growth during the typically slow winter season," said Mark Fleming, chief economist for CoreLogic. "With these gains, the housing market is poised to enter the spring selling season on sound footing. The improvements are materializing across the country, with all but Delaware and Illinois showing increasing HPI and 15 states within 10 percent of their peak values."

The five states that had the highest home price appreciation during January were Arizona, Nevada, Idaho, California and Hawaii, ranked from the highest to lowest, respectively. The highest appreciation was 20.1 percent in Arizona, followed by a 17.4 percent jump in Nevada.

The report also revealed only two states showed home price depreciation for the month, which included distressed sales. The states were Illinois, which saw a 0.4 percent decrease, and Delaware, which was down 0.1 percent.

"Home prices continued to gather steam across a broad swath of the country in January, continuing the positive trend we saw during most of 2012," said Anand Nallathambi, president and CEO of CoreLogic. "Many states across the western U.S. and along the East Coast saw average price gains of more than 6 percent, which is likely to boost home sale activity into the first half of 2013."

Hardest-hit markets improve
Some of the hardest-hit markets during the housing downturn have also rebounded during January. Thirteen markets showed improvements, including Phoenix; Sacramento, California; and Detroit. All 13 of the housing markets experienced growth rates from 9 percent to 24 percent, well above the long-term home price growth rate.

Tagged As : First Time Homebuyers

Related News

Boomerang millennials may eventually head to housing market

Boomerang millennials may eventually head to housing market

The National Association of Home Builders said the number of millennials living with mom and dad could be a good indicator of pent-up housing demand.

February 20, 2015

Pros and cons of using reclaimed wood

Pros and cons of using reclaimed wood

Recycling and upcycling are all the rage with homeowners these days, particularly first-time home buyers who are interested in buying an environmentally friendly home.

October 31, 2014

Housing market expectations for 2015

Housing market expectations for 2015

As 2014 comes to an end, consumers are interested in knowing what to expect from the housing market next year. 

December 9, 2014

Why The Federal Savings Bank

Our goal is to develop customer relationships that are measured in terms of decades … not weeks or months, or even years.

Learn More

Nearest ATM

20321 Susan Leslie Dr, Ashburn, VA 20147
Distance: .75 miles
Driving Directions Find More ATM Locations