The latest data analysis from the Federal Housing Finance Agency reveals home prices climbed 1 percent in November on a seasonally adjusted month-over-month basis.

The House Price Index also found prices were different from the reported 0.2 percent decrease in October as the revised number led to a downward indication of a 0.7 percent decrease.

"The FHFA monthly index is calculated using purchase prices of houses backing mortgages that have been sold to or guaranteed by Fannie Mae or Freddie Mac," the report states. "For the nine census divisions, seasonally adjusted monthly price changes from October to November ranged from -0.2 percent in the Middle Atlantic division to +2.1 percent in the West South Central division."

The report surveyed the Pacific, Mountain, West North Central, West South Central, East North Central, East South Central, New England, South Atlantic and Middle Atlantic regions.

Also in the housing industry, the Mortgage Bankers Association's Weekly Mortgage Applications Survey found application volume decreased 5 percent for the week ending January 20 compared with the week prior. The results include an adjustment for the Martin Luther King Jr. Day holiday.

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