ReleasedonApril272021FHFAHPIreportcontentsPageMonthlypressrelease1VisualizingtrendsinhousepricesBarchartsoftwelvemonthpricechangesforcensusdivisions3Timeseriesofnationalhousepriceindex4Timeseriesofna ID: 884878
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1 FHFAHousePriceIndex(HPI)MonthlyReportDat
FHFAHousePriceIndex(HPI)MonthlyReportDatathruFebruary2021 ReleasedonApril27,2021 FHFAHPIreportcontentsPageMonthlypressrelease1VisualizingtrendsinhousepricesBarchartsoftwelve-monthpricechangesforcensusdivisions.........3Timeseriesofnationalhousepriceindex....................4Timeseriesofnationalpricechangerelativetothepeak...........5TabulatingtrendsinhousepricesMonthlypricechangesandindexvalues.....................7FurtherbackgroundinformationOverviewofavailabledatasets..........................9FHFAHPIreleasedatesfor2021........................10 -1- -1- -1- FEDERAL HOUSING FINANCE AGENCY For Immediate Release A dam Russell A dam.Russell@FHFA.go pril 27, 2021 Raffi.Williams@FHFA.gov FHFA House Price Index Up 0.9 Percent in February; Up 12.2 Per
2 cent from Last Year Washington, D.C. Hou
cent from Last Year Washington, D.C. House prices rose nationwide in February, up previous month, according to the latest Federal Housing Finance Agency House Price Index (FHFA ). House prices rose from February 2020 to February 2021. The previously r January 2021 remained unchanged. For the nine census divisions, seasonally adjusted monthly house price changes from January 2021 to February 2021 ranged from + in the Middle Atlantic division to +the Mountain division. The 12-month changes ranged from +Central division to + in the Mountain division. Annual house price growth acheived a new record high in February said Dr. Lynn Fisher, FHFAs Deputy Director of the Division of Research and Statistics. The 12.2 percent gain represents an increase
3 of $35,000 for a median-priced home that
of $35,000 for a median-priced home that sold a year ago at $290,000 in the Enterprises data. The FHFA HPI is the nations 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. The FHFA HPI incorporates tens of millions of home sales and offers insights about house price fluctuations at the national, census division, state, metro area, county, ZIP code, and census tract levels. FHFA uses a fully transparent methodology based upon a weighted, repeat-sales statistical technique to analyze house FHFA releases HPI data and reports on a quarterly and monthly basis. The flagship FHFA HPI uses se
4 asonally adjusted, purchase-only data fr
asonally adjusted, purchase-only data from Fannie Mae and Freddie Mac. Additional indexes use other data including refinances, FHA moty records. All the indexes, including their historic values, and information about future HPI release dates are available on FHFAs website: https://www.fhfa.gov/HPI FHFA will release its next HPI report on May 25, 2021 with data for the first quarter of 2021 and monthly data through March 2021. The Federal Housing Finance Agency regulates Fannie Mae, Freddie Mac and the 11 Federal Home Loan Banks. These government-sponsored enterprises provide more than $6.9financial institutions. -2- -2- -2- Visualizing trends -3- -3- -3- 10.0%12.0%14.0%16.0%U.S.PacificMountainWestNorthSouthNorthSouthEnglandMiddleAtlanticSouth
5 AtlanticTwelveMonthChangesPriorYearvs.M
AtlanticTwelveMonthChangesPriorYearvs.MostRecentYearPurchaseFHFAAdjusted, 02/201902/2020 02/202002/2021 -4- -4- -4- Feb-94Feb-95Jul-05Jul-06Nov-14Nov-15Dec-16Dec-17Feb-21MonthlyIndexforU.S.fromJanuaryPresentPurchaseFHFAAdjusted,GrowthGrowthGrowth -5- -5- -5- Feb-09Dec-10Nov-11Jul-15Feb-21CumulativeAdjustedChangeRelativePeakforU.S.PurchaseFHFAAdjusted, -6- -6- -6- Tabulating trends -7- -7- -7- Pacific MountainWest North % 1.5 % 1.6 % 1.0 % 1.3 % 0.7 % 0.8 % 1.0 % 0.3 % 0.4 % 1.0%1.2%1.4%1.0%0.9%0.9%0.3%0.8%1.4%1.1%(Previous Estimate)1.0%1.1%1.5%1.0%1.2%0.9%-0.2%0.8%1.4%1.0%1.2%1.2%1.4%0.8%1.3%1.3%1.4%0.9%1.1%1.0%(Previous Estimate)1.2%1.2%1.4%0.7%1.3%1.3%1.5%0.9%1.1%1.0%1.1%1.6%1.4%0.5%0.4%1.0%1.2%1.4%1.0%1.3%(Previous Estimate)1.1%1.6%1.4%0.5%0.3
6 %1.0%1.3%1.4%1.0%1.2%1.4%1.6%1.5%0.9%1.2
%1.0%1.3%1.4%1.0%1.2%1.4%1.6%1.5%0.9%1.2%1.5%0.7%2.0%1.4%1.6%(Previous Estimate)1.4%1.6%1.6%0.8%1.2%1.5%0.7%2.1%1.4%1.7%1.6%1.7%1.9%1.9%0.8%1.5%1.8%2.0%2.1%1.6%(Previous Estimate)1.6%1.7%2.0%1.9%0.8%1.5%1.8%2.0%2.2%1.5% g 12.2%14.2%15.4%10.5%11.1%11.8%11.2%14.0%12.1%11.3%Pacific MountainWest North y -21319.7377.1455.5311.8325.9264.1291.8305.2283.4323.6 y -21316.8371.4448.2308.8321.6262.3289.5302.3282.5322.4December-20313.6366.8441.8305.9318.9259.9288.6300.0278.6319.1November-20310.0362.4435.8303.5314.8256.5284.6297.3275.6316.0October-20306.6356.7429.9302.0313.6254.0281.2293.2272.8312.0 p tember-20302.4351.0423.4299.3309.8250.2279.1287.6269.0307.1 A u g ust-20297.5345.0415.3293.8307.3246.5274.0281.9263.5302.3July-20292.9339.4408.4289.4302.1243.4270
7 .4276.8258.7297.8June-20289.5335.9403.02
.4276.8258.7297.8June-20289.5335.9403.0286.4300.1239.8267.1270.6255.2294.9 y -20286.3330.5397.2284.1296.3237.8264.1267.6253.5291.7 Ap ril-20286.7333.2398.1283.9297.1238.2264.5270.1254.3290.2March-20286.1332.1399.1282.0294.7237.1263.0270.8254.3291.0 y -20284.8330.1394.6282.1293.3236.2262.4267.8252.8290.7 y -20282.7328.3390.8278.6292.6234.2259.7266.6250.7288.5December-19281.3325.6388.8279.1293.2233.0258.3264.0249.8285.6November-19278.9323.8382.5276.1289.5232.4254.6263.2248.0283.5October-19278.0322.3382.2275.3289.3230.0255.5261.4247.0283.3 p tember-19276.5320.2380.1274.4287.7229.5254.8260.2244.9281.5 -8- -8- -8- Further background information -9- -9- -9- The FHFA House Price Index (FHFA HPI) is a broad economic measure of the movement of single-family
8 house prices in the United States. The
house prices in the United States. The production of the FHFA HPI is statutorily mandated (12 U.S.C. 4542) but it began in 1995 with one of FHFA's predecessor agencies, the Office of the Federal Housing Enterprise Oversight (OFHEO). The initial reports contained information about regional and national house price movements. Sample coverage has expanded with better access to new data sources and technological improvements for processing such incover all 50 states and over 400 American cities while extending back to the mid-1970s. FHFA constructs several indexes for different market geographies and periods. The entire suite of indexes is often referenced, in a general sense, as the FHFA HPI to reflect that all indexes are created in the same techn
9 ical manner. The flagship FHFA HPI is th
ical manner. The flagship FHFA HPI is the purchase-only index which uses seasonally adjusted, purchase-only data; the index is the most common choice for press releases, news stories, and social media. Additional indexes have been created to address questions aboother market segments like with refinances, FHA mortgages, or the entire single-family property market. Data constraints preclude the production of some kinds of indexes in certain geographic areas, but multiple index types (flavors) are generally available. Quarterly reports usually contain index flavors such as: Purchase-Only HPI: Tracks changes in transaction prices for conforming, conventional mortgages that are purchased or securitized. All-Transactions HPI: Appraisal values from
10 refinance mortgages are added to the Pur
refinance mortgages are added to the Purchase-Only HPI data sample. Expanded-Data HPI: Sales price information sourced from county recorder offices and from FHA-backed mortgages are added to the Purchase-Only HPI data sample. This index is used to adjust the conforming loan limits, which establish the dollar amount of loans that can be acquired by Fannie Mae and Freddie Mac Distress-Free HPI: Sales of bank-owned properties and short sales are removed from the Purchase-Only dataset prior to estimation of the index. Annual HPI. Uses the All-Transactions data but indexes are constructed on a yearly basis to provide data for very small geographic areas like counties, ZIP codes, and census tracts. The summary table below details the frequency an
11 d geography of the available indexes.
d geography of the available indexes. National States         Annual The FHFA HPI suite is built on tens of millions of home sales and offers insights about house price fluctuations at various geographic levels. For more information, see the HPI Frequently Asked Questions, available online at https://www.fhfa.gov/Media/PublicAffairs/Pages/House-Price-Index-Frequently- Asked-Questions.aspx -10- -10- -10- FHFA HPI Release Dates for 202 1 Public releases occur at 9AM ET and include a press release, tables, figures, and associated data . Date Release Type Latest Included Data Tuesday , January 2 6 Monthly Index November 20 20 Tuesday, February 2 3 Quarterly Index (with Monthly Tables) Dec. 20 20 and 20 20
12 Q4 Tuesday , March 30 Monthly Index
Q4 Tuesday , March 30 Monthly Index January 202 1 Tuesday , April 2 7 Monthly Index February 20 21 Tuesday, May 2 5 Quarterly Index (with Monthly Tables) March 202 1 and 202 1 Q1 Tuesday , June 2 9 Monthly Index April 202 1 Tuesday , July 2 7 Monthly Index May 202 1 Tuesday, August 31 Quarterly Index (with Monthly Tables) June 202 1 and 202 1 Q2 Tuesday , September 2 8 Monthly Index July 202 1 Tuesday , October 2 6 Monthly Index August 20 21 Tuesday, November 30 Quarterly Index (with Monthly Tables) Sept. 202 1 and 202 1 Q3 Tuesday , December 2 8 Monthly Index October 202 1 All data are freely available for download from the FHFA HPI website at https://www.fhfa.go