The FHFA House Price Index declined -0.4% MoM in April and rose 3.0% YoY, slowing from 3.9% YoY in March and the lowest since May 2023. The March figure was revised up to 0.0% MoM from -0.1% MoM.

• Monthly price declines were largest in the West South Central and South Atlantic divisions (both -1.3% MoM); the Mountain division also fell -1.0% MoM.
• The Middle Atlantic division posted the strongest monthly growth at +1.2% MoM.
• On a YoY basis, the Middle Atlantic led all regions with +7.4%, followed by East North Central (+5.7%) and New England (+5.5%).
• The Pacific division saw the weakest YoY gain at +0.5%, followed by the South Atlantic at +1.6%.
• April marked the largest MoM decline in the national index since July 2022.