Jun 23, 2015 - The FHFA HPI is calculated using home sales price information from ... Montana, Idaho, Wyoming, Nevada, U
FEDERAL HOUSING FINANCE AGENCY
NEWS RELEASE For Immediate Release June 23, 2015
Contact: Stefanie Johnson Corinne Russell
(202) 649-3030 (202) 649-3032
FHFA House Price Index Up 0.3 Percent in April Washington, D.C. – U.S. house prices rose in April, up 0.3 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 0.3 percent change in March remains unchanged. The FHFA HPI is calculated using home sales price information from mortgages sold to or guaranteed by Fannie Mae and Freddie Mac. From April 2014 to April 2015, house prices were up 5.3 percent. The U.S. index is 2.3 percent below its March 2007 peak and is roughly the same as the February 2006 index level. For the nine census divisions, seasonally adjusted monthly price changes from March 2015 to April 2015 ranged from -0.8 percent in the East North Central division to +1.4 percent in the West North Central division. The 12-month changes were all positive, ranging from +2.3 percent in the Middle Atlantic division to +7.5 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 July 22, 2015 and will include monthly data for May 2015. Future HPI release dates for 2015 are available on the HPI Release Dates page. ### The Federal Housing Finance Agency regulates Fannie Mae, Freddie Mac and the 11 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.
States in Each Census Division
Pacific:
Hawaii, Alaska, Washington, Oregon, California
Mountain:
Montana, Idaho, Wyoming, Nevada, Utah, Colorado, Arizona, New Mexico
West North Central:
North Dakota, South Dakota, Minnesota, Nebraska, Iowa, Kansas, Missouri
West South Central:
Oklahoma, Arkansas, Texas, Louisiana
East North Central
Michigan, Wisconsin, Illinois, Indiana, Ohio
East South Central:
Kentucky, Tennessee, Mississippi, Alabama
New England:
Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, Connecticut
Middle Atlantic:
New York, New Jersey, Pennsylvania
South Atlantic:
Delaware, Maryland, District of Columbia, Virginia, West Virginia, North Carolina, South Carolina, Georgia, Florida
1
Monthly Price Change Estimates for U.S. and Census Divisions (Purchase-Only Index, Seasonally Adjusted) U.S.
Mar 15 - Apr 15
0.3%
Pacific
Mountain
West North West South East North East South Central Central Central Central
0.7% 0.0% 1.4%
New England
Middle Atlantic
South Atlantic
0.2% -0.8% 0.9% 0.7% -0.3% 0.5%
Feb 15 - Mar 15
0.3%
0.2%
0.2%
0.2%
0.0%
0.8%
1.1%
-0.7%
0.9%
(Previous Estimate)
0.3%
0.2%
0.5%
0.1%
-0.3%
0.8%
0.9%
-0.5%
0.8%
0.1% 0.3%
Jan 15 - Feb 15
0.7%
1.0%
1.0%
0.6%
-0.5%
0.8%
-0.9%
1.6%
-0.1%
1.8%
(Previous Estimate)
0.6%
0.7%
1.1%
0.6%
-0.5%
0.7%
-1.1%
1.4%
0.2%
1.7%
Dec 14 - Jan 15
0.2%
0.0%
0.8%
0.1%
1.4%
-0.5%
1.7%
0.5%
-0.5%
-0.2%
(Previous Estimate)
0.3%
0.1%
0.8%
-0.1%
1.4%
-0.3%
1.9%
0.6%
-0.6%
-0.2%
0.4%
Nov 14 - Dec 14
0.8%
1.6%
1.3%
0.4%
0.7%
1.3%
-0.5%
0.7%
0.7%
(Previous Estimate)
0.8%
1.5%
1.3%
0.4%
0.8%
1.3%
-0.5%
0.5%
0.7%
0.3%
Oct 14 - Nov 14
0.7%
1.0%
1.0%
0.4%
0.8%
-0.3%
1.3%
-0.5%
0.8%
1.3%
(Previous Estimate)
0.7%
1.0%
1.1%
0.4%
0.8%
-0.3%
1.2%
-0.4%
0.7%
1.3%
5.3%
7.5%
7.0%
4.9%
6.0%
3.5%
5.5%
3.7%
2.3%
6.2%
New England
Middle Atlantic
South Atlantic
220.5 219.0 220.6 217.2 216.2 214.7 215.7 215.5 215.1 216.2 214.9 214.4 212.7 212.8 207.5 210.7 208.1 209.6
210.1 210.7 208.9 209.1 210.2 208.7 207.2 207.6 207.3 206.7 207.1 207.0 205.4 203.8 203.2 204.7 202.4 204.0
222.0 220.8 220.6 216.7 217.0 216.2 213.5 211.5 211.1 211.9 211.6 209.2 209.1 208.6 207.5 207.5 205.8 203.9
12-Month Change: Apr 14 - Apr 15
Monthly Index Values for Latest 18 Months: U.S. and Census Divisions (Purchase-Only Index, Seasonally Adjusted, January 1991 = 100)
April-15 March-15 February-15 January-15 December-14 November-14 October-14 September-14 August-14 July-14 June-14 May-14 April-14 March-14 February-14 January-14 December-13 November-13
U.S.
Pacific
Mountain
221.7 221.1 220.3 218.8 218.3 216.6 215.1 214.0 213.6 212.5 211.9 211.2 210.5 210.0 209.1 208.3 207.0 205.6
244.2 242.5 242.1 239.8 239.7 236.1 233.6 233.1 231.7 229.9 229.5 228.1 227.2 226.4 226.0 221.9 220.8 219.7
278.0 277.9 277.5 274.9 272.7 269.3 266.5 264.0 264.6 260.7 261.4 260.4 259.8 260.0 260.0 258.0 255.2 254.3
West North West South East North East South Central Central Central Central 225.8 222.7 222.1 220.9 220.7 219.8 218.9 217.4 217.6 216.4 215.7 215.9 215.3 215.5 214.1 214.2 211.7 211.0
Note: A listing of the states that comprise each Census Division is included in the index release materials.
Source: FHFA
234.4 233.9 233.9 235.1 231.9 230.2 228.4 228.4 227.1 224.9 223.2 223.1 221.2 222.0 220.2 219.2 219.6 215.1
186.0 187.5 186.0 184.4 185.3 182.8 183.4 181.8 181.6 180.2 179.8 179.6 179.7 178.7 178.1 176.9 176.9 175.4
209.2 207.4 205.2 207.1 203.5 204.5 202.0 200.7 200.8 199.7 197.7 197.8 198.2 197.3 198.2 196.8 195.6 193.1
Seasonally Adjusted and Unadjusted Monthly Appreciation Rates Purchase-Only Index for U.S. 2.5% Unadjusted Index
Seasonally Adjusted Index
1.5% 1.0% 0.5% 0.0% -0.5% -1.0% -1.5% -2.0%
Source: FHFA
Apr-15
Mar-15
Feb-15
Jan-15
Dec-14
Nov-14
Oct-14
Sep-14
Aug-14
Jul-14
Jun-14
May-14
Apr-14
Mar-14
Feb-14
Jan-14
Dec-13
-2.5% Nov-13
Percent Price Change Over Prior Month
2.0%
Monthly House Price Index for U.S.
Purchase-Only, Seasonally Adjusted Index, January 1991 - Present 240
220
Compound Annual Growth Rate Since January 1991: 3.3% Compound Annual Growth Rate Since January 2000: 3.2%
180
April 2015 index is roughly the same as the February 2006 index level.
160
140
120
Source: FHFA
Mar-15
May-14
Jul-13
Sep-12
Nov-11
Jan-11
Mar-10
May-09
Jul-08
Sep-07
Nov-06
Jan-06
Mar-05
May-04
Jul-03
Sep-02
Nov-01
Jan-01
Mar-00
May-99
Jul-98
Sep-97
Nov-96
Jan-96
Mar-95
May-94
Jul-93
Sep-92
Nov-91
100 Jan-91
Index Value (January 1991=100)
200
Cumulative Seasonally Adjusted Price Change Relative to Peak for U.S. Purchase-Only, Seasonally Adjusted Peak was March 2007
-2.0% -4.0% -6.0% -8.0% -10.0% -12.0% -14.0% -16.0% -18.0%
Source: FHFA
Mar-15
Nov-14
Jul-14
Mar-14
Nov-13
Jul-13
Mar-13
Nov-12
Jul-12
Mar-12
Nov-11
Jul-11
Mar-11
Nov-10
Jul-10
Mar-10
Nov-09
Jul-09
Mar-09
Nov-08
Jul-08
Mar-08
Nov-07
-22.0%
Jul-07
-20.0% Mar-07
Seasonally Adjusted Change Relative to Peak
0.0%
Twelve-Month Price Changes – Prior Year vs. Most Recent Year Purchase-Only Index
25.0%
Price Change: 04/2013 - 04/2014
Price Change: 04/2014 - 04/2015
Twelve-Month Price Change
20.0%
15.0% 11.2% 10.0% 7.5% 8.0% 6.0%
5.3%
7.2%
7.0% 4.5% 4.9%
5.0%
5.2%
6.0%
5.5%
5.2% 3.5% 3.2%
3.2%
6.2%
3.7% 2.1% 2.3%
0.0%
-5.0% U.S.
Source: FHFA
Pacific
Mountain West North West South East North East South Central Central Central Central
New England
Middle Atlantic
South Atlantic
