US: House prices rise 1.4% in first quarter

U.S. house prices rose 1.4 percent in the first quarter of 2017, announced the Federal Housing Finance Agency on Wednesday.

Key notes:

House prices rose 6.0 percent from the first quarter of 2016 to the first quarter of 2017. FHFA's seasonally adjusted monthly index for March was up 0.6 percent from February
Mortgage rates during the quarter remained slightly elevated relative to most of last year, but demand for homes remained very strong
With housing inventories still languishing at extremely low levels, the strong demand led to another exceptionally large quarterly price increase

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