House prices rose nationwide in May, up 1.7 percent from the previous month, according to the Federal Housing Finance Agency’s (FHFA) latest House Price Index (HPI). House prices rose 18 percent from May 2020 to May 2021. The previously reported 1.8 percent price change for April 2021 was unrevised.
For the nine census divisions, seasonally adjusted monthly house price changes from April 2021 to May 2021 ranged from +1.0 percent in the Middle Atlantic division to +2.4 percent in the Pacific division. The 12-month changes ranged from +15.4 percent in the West South Central division to +23.2 percent in the Mountain division.
“House prices continued their record-setting growth into May,” says Dr. Lynn Fisher, FHFA’s deputy director of the division of research and statistics. “This trend will likely continue around the country as busy summer homebuying months maintain the pressure being felt in already tight housing markets.”
FHFA will release its next HPI report on August 31, 2021 with data for the second quarter of 2021 and monthly data through June 2021.