House prices fell 0.1 percent nationwide in November compared with October, according to the latest Federal Housing Finance Agency (FHFA) House Price Index (HPI). House prices rose 8.2 percent from November 2021 to November 2022, according to a FHFA release.

The previously reported 0 percent price decline in October 2022 remained unchanged.

For the nine census divisions, seasonally adjusted monthly house price changes from October to November 2022 ranged from -1.1 percent in the Pacific division to +0.5 percent in the West North Central division. The 12-month changes were all positive, ranging from +2.4 percent in the Pacific division to +12 percent in the South Atlantic division.

“U.S. house prices were largely unchanged in the last four months and remained near the peak levels reached over the summer of 2022,” Nataliya Polkovnichenko, supervisory economist in FHFA’s division of research and statistics, said in the release. “While higher mortgage rates have suppressed demand, low inventories of homes for sale have helped maintain relatively flat house prices.”

The FHFA HPI is a comprehensive collection of public, freely 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.

It incorporates tens of millions of home sales and offers insights about house price fluctuations at the national, census division, state, metro area, county, ZIP code, and census tract levels. FHFA uses a fully transparent methodology based upon a weighted, repeat-sales statistical technique to analyze house price transaction data.