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US house prices rise at faster pace in January

House prices in the U.S. edged up 0.8% in January from the previous month, when prices rose at a slower rate, according to the latest seasonally adjusted monthly house price index of the Federal Housing Finance Agency.

The monthly increase in house prices in December 2017 was revised upward to 0.4% from 0.3%.

Eight of the nine census divisions recorded higher housing prices in January, led by the Pacific and New England regions, where prices went up 1.2% on a monthly basis. Prices in the West South Central divisions fell 0.7%.

Year over year, U.S. house prices climbed 7.3% in January, with all nine census divisions recording increases.