August 25, 2020

FHFA: U.S. House Prices Up 5.4 Percent from Last Year; Rise 0.8 Percent in Second Quarter Despite COVID

U.S. house prices rose 5.4 percent from the second quarter of 2019 to the second quarter of 2020 according to the Federal Housing Finance Agency (FHFA) House Price Index (HPI). House prices were up 0.8 percent in the second quarter of 2019. FHFA’s seasonally adjusted monthly index for June was up 0.9 percent from May.

“Home prices grew by 5.4 percent in the second quarter of 2020 compared to a year ago, despite the impacts of COVID-19.” said Dr. Lynn Fisher, Deputy Director of the Division of Research and Statistics at FHFA. “Although house prices fell slightly in May relative to April, in June prices rebounded by 0.9 percent over the month as local economies re-opened and transactions picked up again. Four Census Divisions showed strong early summer gains with month over month growth of one percent or more in June.”

View highlights video featuring Dr. Lynn Fisher at

Significant Findings

FHFA produces the nation’s only public, freely available house price indexes (HPIs) that measure changes in single-family house prices based on data that cover all 50 states and over 400 American cities and extend back to the mid-1970s. The HPIs are built from tens of millions of home sales and offer insights about house price fluctuations at the national, census division, state, metro area, county, ZIP code, and census tract levels. The FHFA HPIs use a fully transparent methodology based upon a weighted, repeat-sales statistical technique to analyze transaction data from Fannie Mae and Freddie Mac. FHFA releases data and reports on a quarterly and monthly basis. The flagship FHFA HPI uses seasonally adjusted, purchase-only data, unless otherwise noted.

Additional indexes are based on other data including refinances, FHA mortgages, and real property records. All the indexes are available on the FHFA website.

Tables and graphs showing home price statistics for metropolitan areas, states, census divisions, and the U.S. are included on the following pages.


Download FHFA House Price Index Report – 2020 Q2

This post was originally published here.