FHFA Says Home Prices Up 1.6%
According to the latest Federal Housing Finance Agency’s (FHFA) House Price Index (HPI), U.S. house prices rose 1.6% in April and were up 18.8% from April 2021 to April 2022. The 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.
“House price appreciation continues to remain elevated in April…The inventory of homes on the market remains low, which has continued to keep upward pressure on sales prices. Increasing mortgage rates have yet to offset demand enough to deter the strong price gains happening across the country.” Said Will Doerner, Ph.D., Supervisory Economist in FHFA’s Division of Research and Statistics
Click here to read the full report at the FHFA.
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