According to the latest Federal Housing Finance Agency (FHFA) House Price Index (HPI®) released today (4-26-22), U.S. house prices increased 2.1% month-over-month in February. House prices increased 19.4% from February 2021 to February 2022. The previously reported 1.6% price change for January 2022 remained unchanged.
For the nine census divisions, seasonally adjusted monthly house price changes from January 2022 to February 2022 ranged from +1.3% in the East North Central division to +2.9% in the South Atlantic division. The 12-month changes ranged from +15.3% in the East North Central division to +24.3% in the Mountain division.
In remarks prepared for the release of the February HPI, Will Doerner, Ph.D., Supervisory Economist in FHFA’s Division of Research and Statistics, said, “House prices rose to set a new historical record in February. Acceleration approached twice the monthly rate as seen a year ago. Housing prices continue to rise owing in part to supply constraints.”
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FHFA House Price Index Up 2.1 Percent in February; Up 19.4 Percent from Last Year