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FHFA House Price Index Rises in July


Washington, D.C. - U.S. house prices rose in July, up 0.1 percent on a seasonally adjusted basis from the previous month, according to the Federal Housing Finance Agency (FHFA) monthly House Price Index (HPI).  The previously reported 0.4 percent increase in June was revised to reflect a 0.3 percent increase.

The FHFA HPI is calculated using home sales price information from mortgages either sold to or guaranteed by Fannie Mae and Freddie Mac.  From July 2013 to July 2014, house prices were up 4.4 percent.  The U.S. index is 6.4 percent below its April 2007 peak and is roughly the same as the July 2005 index level.  This is the eighth consecutive monthly house price increase.

For the nine census divisions, seasonally adjusted monthly price changes from June 2014 to July 2014 ranged from -0.5 percent in the Middle Atlantic division to +0.4 percent in the East North Central division.  The 12-month changes were all positive ranging from +1.6 percent in the Middle Atlantic division to +7.2 percent in the Pacific division.

Monthly index values and appreciation rate estimates for recent periods are provided in the table and graphs on the following pages.  Complete historical data are available on the Downloadable HPI Data page. For detailed information on the monthly HPI, see HPI Frequently Asked Questions (FAQ).  The next HPI report will be released October 23, 2014 and will include monthly data for August 2014.  Future HPI release dates for 2014 and 2015 are available on the HPI Release Dates page.



The Federal Housing Finance Agency regulates Fannie Mae, Freddie Mac and the 12 Federal Home Loan Banks. These government-sponsored enterprises provide more than $5.6 trillion in funding for the U.S. mortgage markets and financial institutions.​


Corinne Russell (202) 649-3032 / Stefanie Johnson (202) 649-3030

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