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House Price Index

 

See latest FHFA House Price Index (HPI) report here, review analysis of the third quarter results, and download MSA Fact Sheets on top and bottom 20 metropolitan areas in house price appreciation.

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.

The FHFA HPI includes house price figures for the nine Census Bureau divisions, for the 50 states and the District of Columbia, and for Metropolitan Statistical Areas (MSAs) and Divisions.

FHFA publishes monthly and quarterly HPI reports

See FHFA HPI release dates

 

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 and all-transactions index data by adding prices from FHA and county recorder data.  

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


FHFA HPI ZIP5 Map

FHFA HPI County Map

FHFA HPI Four-Quarter Appreciation US

FHFA HPI Four-Quarter Appreciation Map

FHFA HPI Motion Chart

FHFA HPI Summary Tables

FHFA HPI Calculator

 

Frequently Asked Questions


FHFA House Price Index FAQs

 

Related Documents


Methodology: HPI Technical Paper

FHFA House Price Index Focus Pieces

 

FHFA HPI Release Dates



Date

Release Type

Latest Included Data 

​ ​2019 ​

November 26, 2019

Quarterly Index (with Monthly Tables)

Sept. 2019 and 2019Q3

December 31, 2019

Monthly Index

October 2019

2020

​Wednesday, January 22

​Monthly Index

​November 2019

​Tuesday, February 25

​Quarterly Index (with Monthly Tables)

​Dec. 2019 and 2019Q4

Wednesday, March 25

​Monthly Index

​January 2020

​Wednesday, April 22

​Monthly Index

​February 2020

​Tuesday,  May 26

​Quarterly Index (with Monthly Tables)

​March 2020 and 2020Q1

​Wednesday, June 24

​Monthly Index

​April 2020

​Wednesday, July 22

​Monthly Index

​May 2020

​Tuesday, August 25

​Quarterly Index (with Monthly Tables)

​June 2020 and 2020Q2

​Wednesday, September 23

​Monthly Index

​July 2020

​Wednesday, October 27

​Monthly Index

​August 2020

​Tuesday, November 24

​Quarterly Index (with Monthly Tables)

​Sept. 2020 and 2020Q3

​Wednesday, December 23

​Monthly Index

​October 2020

© 2019 Federal Housing Finance Agency