According to the latest Federal Housing Finance Agency’s (FHFA) House Price Index (HPI), U.S. house prices rose 1.6% in January, 2022 and were up 18.2% from one year ago. 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.
“House price trends notched up slightly in January…Rising mortgage rates in January certainly reflect a major change from the past several years, but lending costs remain relatively low. The mortgage rate shift has not dampened upward price pressure from intense borrower demand and limited supply.” Said Will Doerner, Ph.D., Supervisory Economist in FHFA’s Division of Research and Statistics.
Click here to read the full report at the FHFA.gov.