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FHFA House Price Index Up 0.5 Percent in August


​Washington, D.C. – U.S. house prices rose in August, up 0.5 percent on a seasonally adjusted basis from the previous month, according to the Federal Housing Finance Agency (FHFA) monthly House Price Index (HPI).  The previously reported 0.1 percent increase in July was revised to reflect a 0.2 percent increase.

The FHFA HPI is calculated using home sales price information from mortgages sold to or guaranteed by Fannie Mae and Freddie Mac.  From August 2013 to August 2014, house prices were up 4.8 percent.  The U.S. index is 5.8 percent below its April 2007 peak and is roughly the same as the August 2005 index level.  This is the ninth consecutive monthly house price increase.

For the nine census divisions, seasonally adjusted monthly price changes from July 2014 to August 2014 ranged from -0.6 percent in the New England and South Atlantic divisions to +1.2 percent in the Mountain division.  The 12-month changes were all positive ranging from +1.9 percent in the Middle Atlantic division to +7.8 percent in the Pacific division.

Monthly index values and appreciation rate estimates for recent periods are provided in the table and graphs on the following pages.  Complete historical data are available on the Downloadable HPI Data page.

For detailed information on the monthly HPI, see HPI Frequently Asked Questions (FAQ).  The next HPI report will be released November 25, 2014 and will include monthly data for September 2014 and quarterly data for the third quarter of 2014.  Future HPI release dates for 2014 and 2015 are available on the HPI Release Dates page​. 



​The Federal Housing Finance Agency regulates Fannie Mae, Freddie Mac and the 12 Federal Home Loan Banks. These government-sponsored enterprises provide more than $5.6 trillion in funding for the U.S. mortgage markets and financial institutions.


Stefanie Johnson (202) 649-3030 / Corinne Russell (202) 649-3032

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