FHFA House Price Index Up 0.2% in January
U.S. house prices rose 4.8% year over year, from Jan. 2024 to Jan. 2025. For the nine census divisions, monthly home price changes ranged from -0.8% to +1%.
WASHINGTON — U.S. house prices rose 0.2% in January, according to the U.S. Federal Housing (FHFA) seasonally adjusted monthly House Price Index (FHFA HPI®). House prices rose 4.8% from January 2024 to January 2025. The previously reported 0.4% price growth in December was revised upward to 0.5%.
Among the nine census divisions, seasonally adjusted monthly home price changes ranged from a -0.8% in the South Atlantic division to +1.0% in the West North Central division. The 12-month changes were all positive, ranging from +2.4% in the West South Central division to +8.2% Middle Atlantic division.
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.
FHFA releases HPI data and reports quarterly and monthly. The flagship FHFA HPI uses seasonally adjusted, purchase-only data from Fannie Mae and Freddie Mac. Additional indexes use other data, including refinances, mortgages insured by the Federal Housing Administration, and real property records. All the indexes (including their historic values) and information about future HPI release dates are available on FHFA’s website.
The next HPI report will be released April 29, 2025, and will include monthly data through February of 2025.
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