Federal Housing Finance Agency Reports U.S. Home Prices Increase 1.8% Month-Over-Month and 15.7% Year-Over-Year in April 2021

According to the Federal Housing Finance Agency (FHFA) House Price Index (HPI®) U.S. house prices increased 15.7% from April 2020 to April 2021. FHFA’s seasonally adjusted monthly index for April 2021, was up 1.8% from March 2021 upwardly revised 1.6% increase. For the nine census divisions, seasonally adjusted monthly house price changes from March 2021 to April 2021 ranged from +1.2% in the West North Central division to +2.6% in the Mountain and Middle Atlantic divisions. The 12-month changes ranged from +13.0% in the West North Central to +20.6% percent in the Mountain division. In a statement prepared for the release of the April HPI, Dr. Lynn Fisher, FHFA’s Deputy Director of the Division of Research and Statistics said, “This unprecedented price growth persists due to strong demand, bolstered by still-low mortgage rates, and too few homes for sale.”