U.S. house prices rose in April, up 0.2 percent from March, according to the Federal Housing Finance Agency’s (FHFA) seasonally adjusted monthly House Price Index (HPI.

House prices rose 6.3 percent from April 2023 to April 2024. The previously reported 0.1 percent price increase in March was revised downward to 0 percent.

For the nine census divisions, seasonally adjusted monthly price changes from March to April ranged from -0.2 percent in the West South Central and Middle Atlantic divisions to +1.4 percent in the East South-Central division.

The 12-month changes were all positive, ranging from +3 percent in the West South-Central division to +8.5 percent in the New England and Middle Atlantic divisions.

“U.S. house prices continued to rise in April,” Anju Vajja, deputy director for FHFA’s Division of Research and Statistics, said in a release “However, the appreciation rate slowed in April amid a slight rise in both mortgage rates and housing inventory.  The housing market in general began to show some signs of normalization.”

The FHFA HPI is a comprehensive collection of publicly available house price indexes that measure changes in single-family home values based on data that extend back to the mid-1970s from all 50 states and over 400 American cities.

FHFA will release its next HPI report on July 30 including monthly data through May.