Federal Housing Finance Agency Reports U.S. Home Prices Increase 1.0% Month-Over-Month and 18.5% Year-Over-Year in August 2021

According to the latest Federal Housing Finance Agency (FHFA) House Price Index (HPI®), U.S. house prices increased month-over-month 1.0% in August. House prices increased 18.5% from August 2020 to August 2021. The previously reported 1.4% price change for July 2021 remained unchanged.

For the nine census divisions, seasonally adjusted monthly house price changes from July 2021 to August 2021 ranged from -0.1 percent in the New England division to +1.9 percent in the South Atlantic division. The 12-month changes ranged from +14.9 percent in the West North Central division to +25.8 percent in the Mountain division.

In a statement prepared for the release of the August HPI, Dr. Lynn Fisher, FHFA’s Deputy Director of the Division of Research and Statistics said, “Annual house price gains remained extremely high in August but the pace of month-over-month gains continues to decelerate. This does not mean house prices are at risk of declining — far from it, they continue to climb at a double-digit pace in all regions — but it does suggest we may have seen the peak in annual gains for the time being.”