According to the latest Federal Housing Finance Agency’s (FHFA) House Price Index (HPI), home prices were up 3% over Q2 2022 though Q2 2023. In addition, they report prices were up 1.7% compared to the first quarter of 2023 and up 0.3% from May to June, 2023. 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 appreciated at a slightly higher rate in the second quarter amid low inventory…While prices in a number of western states continued to decline year-over-year, house prices rose in all states quarter-over-quarter.” Said Dr. Anju Vajja, Principal Associate Director in FHFA’s Division of Research and Statistics.