FHFA house price index shy away from estimates

U.S. house prices rose 18.5 percent from the third quarter of 2020 to the third quarter of 2021 according to the Federal Housing Finance Agency House Price Index (FHFA HPI®). House prices were up 4.2 percent compared to the second quarter of 2021. FHFA’s seasonally adjusted monthly index for September was up 0.9 percent from August.

“House price appreciation reached its highest historical level in the quarterly series,” said William Doerner, Ph.D., Supervisory Economist in FHFA’s Division of Research and Statistics. “Compared to a year ago, annual gains have increased in every state and metro area. Real estate prices have risen exceptionally fast, but market momentum peaked in July as month-over-month gains have moderated.”