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House Price Index

U.S. House Price Index Report - 3Q 2016 / September

Published: 11/23/2016

U.S. house prices rose 1.5 percent in the third quarter of 2016 according to the Federal Housing Finance Agency (FHFA) House Price Index (HPI). House prices rose 6.1 percent from the third quarter of 2015 to the third quarter of 2016. FHFA’s seasonally adjusted monthly index for September was up 0.6 percent from August. The HPI is calculated using home sales price information from mortgages sold to, or guaranteed by, Fannie Mae and Freddie Mac. FHFA has produced a video of highlights for this quarter.

While the HPI rose 6.1 percent from the third quarter of 2015 to the third quarter of 2016, prices of other goods and services were nearly unchanged. The inflation-adjusted price of homes rose approximately 6.0 percent over the last year.


Significant Findings

  • Home prices rose in 49 states between the third quarter of 2015 and the third quarter of 2016. Delaware and the District of Columbia were the only areas not to see price increases. The top five states in annual appreciation were: 1) Florida 10.7 percent; 2) Oregon 10.4 percent; 3) Washington 10.4 percent; 4) Colorado 10.0 percent; and 5) Utah 9.5 percent.
  • Among the 100 most populated metropolitan areas in the U.S., annual price increases were greatest in the Tacoma-Lakewood, WA (MSAD), where prices increased by 12.9 percent. Prices were weakest in New Haven-Milford, CT, where they fell 1.7 percent.
  • Of the nine census divisions, the South Atlantic division experienced the strongest increase in the third quarter, posting a 1.8 percent quarterly increase and a 7.1 percent increase since the third quarter of last year. House price appreciation was weakest in the New England division, where prices rose 0.8 percent from the last quarter.

​Related News Release

Related Video (Highlights)

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