Federal Housing Finance Agency Reports U.S. Home Prices Increased 1.7% Month-Over-Month and 18.0% Year-Over-Year in May 2021

According to the latest Federal Housing Finance Agency (FHFA) House Price Index (HPI®), U.S. house prices increased 1.7% in May, up from April 2021’s unrevised 1.6% increase. House prices increased 18.0% from May 2020 to May 2021. For the nine census divisions, seasonally adjusted monthly house price changes from April 2021 to May 2021 ranged from 1.0% in the Middle Atlantic division to 2.4% in the Pacific division. The 12-month changes ranged from 15.4% in the West South-Central division to 23.2% in the Mountain division.

In remarks prepared for the release of the May HPI, Dr. Lynn Fisher, FHFA’s Deputy Director of the Division of Research and Statistics said, “This trend will likely continue around the country as busy summer homebuying months maintain the pressure being felt in already tight housing markets.”