FHFA Says Home Prices Up 18.7% from One Year Ago
According to the latest Federal Housing Finance Agency’s (FHFA) House Price Index (HPI), U.S. house prices rose 18.7% from Q1 2021 to the first
Q2 2022. The seasonally adjusted monthly index for March was up 1.5% from February. The FHFA produces the nation’s only public, freely available house price indexes (HPIs) that measure changes in single-family house prices based on data that cover all 50 states and over 400 American cities and extend back to the mid-1970s.
“High appreciation rates continued across housing markets during the first quarter of 2022…Strong demand coupled with tight supply have kept prices climbing. Through the end of March, higher mortgage rates have not yet translated into slower price gains, but new home sales have dropped during the last few months, with a significant falloff in April.” Said William Doerner, Ph.D., Supervisory Economist in FHFA’s Division of Research and Statistics.