US house prices up 16.5% in Q2 2005

Purchase prices of homes financed by Fannie Mae increased at a 16.5% annualized rate in Q2 2005 and are now up 14.1% YTY. Prices had increased 8.8% annualized in Q1 2005, or 12.5% YTY, according to Office of Federal Housing Enterprise Oversight. Quarterly gains peaked at 19.2% annualized in Q3 2004.