FHFA: House Price Index Up 0.4 Percent in May

Washington, D.C. – U.S. house prices rose in May, up 0.4 percent from the previous month, according to the Federal Housing Finance Agency (FHFA) seasonally adjusted monthly House Price Index (HPI).  The previously reported 0.7 percent increase in April was revised downward to reflect a 0.6 percent increase.

The FHFA monthly HPI is calculated using home sales price information from mortgages sold to, or guaranteed by, Fannie Mae and Freddie Mac.  From May 2016 to May 2017, house prices were up 6.9 percent. 

For the nine census divisions, seasonally adjusted monthly price changes from April 2017 to May 2017 ranged from -0.5 percent in the Middle Atlantic division to +1.0 percent in the West South Central division.  The 12-month changes were all positive, ranging from +4.0 percent in the Middle Atlantic division to +8.7 percent in the Pacific division.

Monthly index values and appreciation rate estimates for recent periods are provided in the table and graphs on the following pages.  Complete historical downloadable data and HPI release dates for 2017 are available on the HPI page.

For detailed information on the HPI, see HPI Frequently Asked Questions (FAQ).  The next HPI report will be released Aug. 22, 2017 and will include data for the second quarter of 2017 and monthly data through June 2017.

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