This annual report describes FHFA's accomplishments, as well as challenges, the agency faced in meeting the strategic goals and objectives during the past fiscal year.
Read about the agency’s 2019 examinations of Fannie Mac, Freddie Mac and the Home Loan Bank System.
Submit comments and provide input on FHFA Rules Open for Comment by clicking on Rulemaking and Federal Register.
Implement critical reforms that will produce a stronger and more resilient housing finance system.
FOSTER competitive, liquid, efficient, and resilient (CLEAR) national housing finance markets that support sustainable homeownership and affordable rental housing; OPERATE in a safe and sound manner appropriate for entities in conservatorship; and PREPARE for eventual exits from the conservatorships.
2019 Conservatorships Strategic Plan
FHFA experts provide reliable data, including all states, about activity in the U.S. mortgage market through its House Price Index, Refinance Report, Foreclosure Prevention Report, and Performance Report.
FHFA economists and policy experts provide reliable research and policy analysis about critical topics impacting the nation’s housing finance sector. Meet the experts...
Latest FHFA House Price Index (HPI) news release and reportKey findings and analysis of the most recent quarterly releaseMetropolitan area highlights with rankings and recent trendsRelease dates for upcoming reports
The FHFA House Price Index (HPI) is the nation's only public, freely available index that measures changes in single-family house prices based on data covering all 50 states and over 400 American cities. Extending back to the mid-1970s, the HPIs are built on tens of millions of home sales and offer insights about house price fluctuations at national, census division, state metro area, county, ZIP code, and census tract levels.
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.
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 indexesBuild on the purchase-only and all-transactions index data by adding prices from FHA and county recorder data.
Purchase-Only Indexes Volatility ParametersThe 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 ParametersThe 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.
HPI ZIP5 Map
HPI County Map
HPI Four-Quarter Appreciation US
HPI Four-Quarter Appreciation Map
HPI Motion Chart
HPI Summary Tables
Wednesday, January 22
Tuesday, February 25
Quarterly Index (with Monthly Tables)
Dec. 2019 and 2019Q4
Wednesday, March 25
Wednesday, April 22
Tuesday, May 26
March 2020 and 2020Q1
Wednesday, June 24
Wednesday, July 22
Tuesday, August 25
June 2020 and 2020Q2
Wednesday, September 23
Tuesday, October 27
Tuesday, November 24
Sept. 2020 and 2020Q3
Wednesday, December 23
© 2020 Federal Housing Finance Agency