According to the latest Federal Housing Finance Agency’s (FHFA) House Price Index (HPI), home prices home prices rose 6.6% between Q1 2023 and Q1 2024. In addition, FHFA’s seasonally adjusted monthly index for April was up 0.1% from March. 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 prices continued to grow at a steady pace in the first quarter…Over the last six consecutive
quarters, the low inventory of homes for sale continued to contribute to house price appreciation despite mortgage rates that hovered around 7 percent.” Said Dr. Anju Vajja, Deputy Director for FHFA’s Division of Research and Statistics.
Click here to read the full report at the FHFA.
