The House Price Index (HPI) is a valuable tool that tracks changes in single-family home values using transaction data from repeat sales, offering insights at the state, regional, and national levels. This index helps assess the health of local housing markets, which is crucial for making informed lending decisions and understanding market conditions that could affect borrowers' ability to repay loans. Typically, a rising HPI indicates an appreciating market, while a declining index may signal potential risks. The FHFA releases new data at the end of each month, which we promptly incorporate into our House Price Index reports.
Choosing Time Frames
Select Quarter to view the average for the previous quarter, 1 Year to view the average for the previous year, 5 Years to view the average for the previous five years, and Since 1991 to view the cumulative average appreciation since 1991 in the respective market(s).
Comparing Price Indexes
National House Price Index
Selecting the National tab allows you to compare different states' average appreciation to the national average based on the time frame chosen (Quarter, 1 Year, 5 Year, Since 1991.)
You can quickly compare using our color coding.
- States in darker teal are 20% above the national average
- States in light teal are 20% below the national average
- States in grey are between 20% above and below the national average
Regional House Price Index
You can use the Regional tab to compare multiple regions across the country at once as well as the national average. The regions you can compare are:
- New England: Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island
- Middle Atlantic: New Jersey, New York, Pennsylvania
- East North Central: Illinois, Indiana, Michigan, Ohio, Wisconsin
- West North Central: Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, South Dakota
- South Atlantic: Delaware, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia, Washington, D.C., West Virginia
- East South Central: Alabama, Kentucky, Mississippi, Tennessee
- West South Central: Arkansas, Louisiana, Oklahoma, Texas
- Mountain: Arizona, Colorado, Idaho, Montana, Nevada, New Mexico, Utah, Wyoming
- Pacific: Alaska, California, Hawaii, Oregon, Washington
To compare regions within the report:
1. Click Regional.
2. Click on the search box.
3. Choose which regions you wish to compare from the dropdown.
The line graph will automatically update and you can remove a market from the line graph by using the checkboxes at the top of the graph. You can also zoom in on a particular timeframe by sliding the ends of the bar at the top of the graph (pictured below):
State House Price Index
You can use the State tab to compare multiple states across the country at once as well as the national average. To compare states:
1. Click Regional.
2. Click into the search box
3. Choose which regions you wish to compare from the dropdown
The line graph will automatically update and you can remove a market from the line graph by using the checkboxes at the top of the graph. You can also zoom in on a particular timeframe by sliding the ends of the bar at the top of the graph (pictured below):
Sharing the Housing Price Index
Once you choose your comparisons and time frames, you can download the Housing Price Index as a PDF document. To do so, simply click Download in the top right-hand corner of the page. Please note that if you want to download all three comparisons, you must click on each tab and download them separately.
Have questions or want to learn more? Submit a ticket or call us today!
Related to