FHFA House Price Index Up 0.3% in August
Housing prices increased 4.2% from last year nationwide, the Federal Housing Finance Agency said. Price appreciation remained modest for the 6th month.
WASHINGTON — U.S. house prices rose 0.3% in August, according to the Federal Housing Finance Agency's (FHFA) seasonally adjusted monthly House Price Index (HPI). House prices rose 4.2% from August 2023 to August 2024. The previously reported 0.1% price increase in July was revised upward to 0.2% .
For the nine census divisions, seasonally adjusted monthly price changes from July 2024 to August 2024 ranged from -0.1% in the East North Central and New England divisions to +0.9% in the West North Central division. The 12-month changes were all positive, ranging from +2.4% in the West South-Central division to +6.3% in the East North Central division.
In the South Atlantic division, which includes Florida, seasonally adjusted monthly price changes from July 2024 to August 2024 increased 0.1% with a 12-month increase of 3.7%
"House price appreciation in the United States remained modest for the sixth consecutive month," said Dr. Anju Vajja, deputy director for FHFA’s Division of Research and Statistics. "The slow but continued house price growth and the effect of locked-in interest rates led to persistent housing affordability challenges."
The FHFA HPI is a comprehensive collection of publicly available house price indexes that measure changes in single-family home values based on data that extend back to the mid-1970s from all 50 states and over 400 American cities. It incorporates tens of millions of home sales and offers insights about house price changes at the national, census division, state, metro area, county, ZIP code, and census tract levels. FHFA uses a fully transparent methodology based upon a weighted, repeat-sales statistical technique to analyze house price transaction data.
Source: FHFA
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