US house prices rise 0.5% in October

U.S. house prices increased 0.5 percent in October, the Federal Housing Finance Agency (FHFA) reported Tuesday.

U.S. house prices rose 0.5 percent in October from the revised level of September, according to the FHFA's House Price Index. The previously reported 0.8 percent increase in September was revised downward to 0.7 percent.

From October 2014 to October 2015, house prices were up 6.1 percent.

Two of the nine census divisions suffered price decline compared with September, while on an annual basis all the divisions witnessed growth from 2.9 percent in the New England division to 8.9 percent in the Mountain division.

The FHFA measured changes in real estate values using purchases of properties with mortgages backed by Fannie Mae or Freddie Mac. It did not provide a specific price for houses.