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House Price Index

 

The FHFA House Price Index (HPI) is a broad measure of the movement of single-family house prices. The 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 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 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 latest HPI Report.

See 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


HPI ZIP5 Map

HPI County Map

HPI Four-Quarter Appreciation US

HPI Four-Quarter Appreciation Map

HPI Motion Chart

HPI Summary Tables

HPI Calculator

 

Frequently Asked Questions


House Price Index FAQs

 

Related Documents


Methodology: HPI Technical Paper

House Price Index Focus Pieces

 

HPI Release Dates



Date

Release Type

Latest Included Data 

​ ​2018 ​

​December 27, 2018

​Monthly Index

​October 2018

​ ​2019 ​

​January 23,  2019

​Monthly Index

​November 2018

February 26, 2019

Quarterly Index (with Monthly Tables)

Dec. 2018 and 2018Q4

March 26, 2019

Monthly Index

January 2019

April 23, 2019

Monthly Index

February 2019

May 28, 2019

Quarterly Index (with Monthly Tables)

March 2019 and 2019Q1

June 25, 2019

Monthly Index

April 2019

July 23, 2019

Monthly Index

May 2019

August 27, 2019

Quarterly Index (with Monthly Tables)

June 2019 and 2019Q2

September 24, 2019

Monthly Index

July 2019

October 23, 2019

Monthly Index

August 2019

November 26, 2019

Quarterly Index (with Monthly Tables)

Sept. 2019 and 2019Q3

December 31, 2019

Monthly Index

October 2019



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