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House Price Index

Latest FHFA House Price Index (HPI) news release and report

2021 Q3 House Price Index Video 

Release dates for upcoming reports 

The FHFA House Price Index (FHFA HPI®) is the nation’s only collection of public, freely available house price indexes that measure changes in single-family home values based on data from all 50 states and over 400 American cities that extend back to the mid-1970s.  The FHFA HPI incorporates tens of millions of home sales and offers insights about house price fluctuations at the national, census division, state, metro area, county, ZIP code, and census tract levels.  FHFA uses a fully transparent methodology based upon a weighted, repeat-sales statistical technique to analyze house price transaction data.

What does the FHFA HPI represent?


The FHFA HPI is a broad measure of the movement of single-family house prices. The FHFA HPI is a weighted, repeat-sales index, meaning that it measures average price changes in repeat sales or refinancings on the same properties. This information is obtained by reviewing repeat mortgage transactions on single-family properties whose mortgages have been purchased or securitized by Fannie Mae or Freddie Mac since January 1975.

The FHFA HPI serves as a timely, accurate indicator of house price trends at various geographic levels. Because of the breadth of the sample, it provides more information than is available in other house price indexes. It also provides housing economists with an improved analytical tool that is useful for estimating changes in the rates of mortgage defaults, prepayments and housing affordability in specific geographic areas.


Datasets


Monthly Purchase-Only Indexes
The standard indexes reported in monthly news releases. Use prices from sales transactions of mortgage data obtained from the Enterprises.

Quarterly Purchase-Only Indexes
The standard indexes reported in quarterly news releases. Use prices from sales transactions of mortgage data obtained from the Enterprises.     

Quarterly All-Transactions Indexes
Build on the purchase-only index data by adding prices from appraisal data obtained from the Enterprises.

Quarterly Expanded-Data indexes
Build on the purchase-only data by adding transactions from FHA and county recorder data (with sales prices below the annual loan limit ceiling).

Purchase-Only Indexes Volatility Parameters
The standard deviation of house price growth (accounting for the time between repeat sales). Use prices from sales transactions of mortgage data obtained from the Enterprises.    

All-Transactions Indexes Volatility Parameters
The standard deviation of house price growth (accounting for the time between repeat sales). Build on the purchase-only volatility data by adding prices from appraisal data obtained from the Enterprises.


Tools


HPI Calculator

FHFA HPI Top 100 Metro Area Rankings      

HPI Four-Quarter Appreciation Map     

HPI Summary Tables

HPI County and HPI ZIP5 Maps

     

FHFA HPI Release Dates


Date

Release Type

Latest Included Data 

​​2021​ ​ ​

​​​Tuesday, November 30

​​Quarterly Index (with Monthly Tables)

​​Sept. 2021 and 2021Q3

​​​Tuesday, December 28

​​Monthly Index

​October  2021

​​​2022​ ​ ​ ​ ​
​Tuesday, January 25
​Monthly Index
November 2021

​Tuesday, February 22

​Quarterly Index (with Monthly Tables)

​Dec. 2021 and 2021Q4

​Tuesday, March 29

​Monthly Index

​January 2022

​Tuesday, April 26

​Monthly Index

​February 2022

​Tuesday, May 31

​Quarterly Index (with Monthly Tables)

​March 2022 and 2022Q1

​Tuesday, June 28

​Monthly Index

​April 2022

​Tuesday, July 26

​Monthly Index

​​​May 2022

​Tuesday, August 30

​Quarterly Index (with Monthly Tables)

​June 2022 and 2022Q2​

​Tuesday, September 27

​Monthly Index

July 2022

​Tuesday, October 25

​Monthly Index

​August 2022

​Tuesday, November 29

​Quarterly Index (with Monthly Tables)

​​Sept. 2022 and 2022Q3

​Tuesday, December 27

​Monthly Index

​October  2022

For questions, please contact HPIQuestions@fhfa.gov.​

© 2021 Federal Housing Finance Agency