According to the latest Federal Housing Finance Agency’s (FHFA) House Price Index (HPI), home prices home prices rose 5.5%% between Q3 of 2022 and Q3 of 2023. In addition, FHFA’s seasonally adjusted monthly index for September was up 0.6% from August. The FHFA HPI is the nation’s only collection of public, freely available house price indexes that measure changes in single-family home values based on data from all 50 states and over 400 American cities that extend back to the mid-1970s.
“U.S. house price growth continued to accelerate in the third quarter, appreciating more than in each of the previous four quarters…House prices rose in the third quarter in all census divisions and are higher than one year ago, driven primarily by a low supply of homes for sale.” Said Dr. Anju Vajja, Principal Associate Director in FHFA’s Division of Research and Statistics.