According to the latest Federal Housing Finance Agency’s (FHFA) House Price Index (HPI), U.S. house prices rose 12.4% from Q3 of 2021 to the Q3 of 2022. In addition, prices were up 0.1% compared to the second quarter of 2022. FHFA’s seasonally adjusted monthly index for September was up 0.1% from August.
“House prices were flat for the third quarter but continued to remain above levels from a year ago. The rate of U.S. house price growth has substantially decelerated. This deceleration is widespread with about one-third of all states and metropolitan statistical areas registering annual growth below 10 percent.” Said Will Doerner, Ph.D., Supervisory Economist in FHFA’s Division of Research and Statistics.