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FHFA House Price Index Up 0.4 Percent in May


Washington, D.C. – U.S. house prices rose in May, up 0.4 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 0.3 percent change in April was revised upward to reflect a 0.4 percent change.

The FHFA HPI is calculated using home sales price information from mortgages sold to or guaranteed by Fannie Mae and Freddie Mac.  From May 2014 to May 2015, house prices were up 5.7 percent.  The U.S. index is 1.8 percent below its March 2007 peak and is roughly the same as the April 2006 index level. 

For the nine census divisions, seasonally adjusted monthly price changes from April 2015 to May 2015 ranged from -0.6 percent in the East South Central division to +1.1 percent in the East North Central division.  The 12-month changes were all positive, ranging from +0.9 percent in the Middle Atlantic division to +8.4 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 August 25, 2015 and will include quarterly data througthe second quarter of 2015 and monthly data through June. 

FHFA has selected HPI release dates for 2016.  Those dates, in addition to dates for the rest of 2015, are available on the HPI Release Dates page.  



​The Federal Housing Finance Agency regulates Fannie Mae, Freddie Mac and the 11 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. Additional information is available at www.FHFA.gov, on Twitter @FHFA, YouTube and LinkedIn.
Media: Corinne Russell (202) 649-3032  / Stefanie Johnson (202) 649-3030
Consumers: Consumer Communications or (202) 649-3811​​​
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