Federal Housing Finance Agency Reports U.S. Home Prices Increase 0.9% in February 2021; Up 12.2% Year-Over-Year

The Federal Housing Finance Agency (FHFA) Home Price Index (HPI) reports that U.S. house prices rose 0.9% from January 2021, but were up 12.2% year-over-year (February 2020 to February 2021). The previously reported 1.0 percent price change for January 2021 remained unchanged. For the nine census divisions, seasonally adjusted monthly house price changes from January 2021 to February 2021 ranged from +0.3% in the Middle Atlantic division to +1.6% in the Mountain division. The 12-month changes ranged from +10.5% in the West North Central division to +15.4% in the Mountain division. In a remarks prepared for the release of the report Dr. Lynn Fisher, FHFA’s Deputy Director of the Division of Research and Statistics said, “Annual house price growth achieved a new record high in February. The 12.2% gain represents an increase of $35,000 for a median-priced home that sold a year ago at $290,000 in the Enterprises’ data.”