FHFA House Price Index Up 1.5 Percent in August

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According to the latest Federal Housing Finance Agency House Price Index (FHFA HPI), house prices rose nationwide in August, up 1.5 percent from the previous month and up 8.0 percent from August 2019 to August 2020.

For the nine census divisions, seasonally adjusted monthly house price changes from July 2020 to August 2020 ranged from +0.9 percent in the East South Central division to +1.9 percent in the West South Central division. The 12-month changes ranged from +7.2 percent in the West North Central division to +9.7 percent in the Mountain division.

“U.S. house prices posted a strong increase in August,” says Dr. Lynn Fisher, FHFA’s deputy director of the division of research and statistics. “Between July and August 2020, national prices increased by 1.5 percent, which represents the largest one-month price increase observed since the start of the index in 1991.

“This large month-over-month gain contributes to an already strong increase in prices over the summer,” Fisher adds. “These price gains can be attributed to the historically low interest rate environment, rebounding housing demand, and continued supply constraints.”

Complete data is available here.

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