FHFA Reports House Price Index Increased Month-Over-Month & Year-Over-Year in April 2023

The Federal Housing Finance Agency (FHFA) reported today (6-27-23), its House Price Index (FHFA HPI®) for April 2023. According to the HPI, U.S. house prices rose 0.7%, seasonally adjusted between March and April 2023. Year-over-year house prices rose 3.1% (Apr.22 – Apr. 23). The previously reported 0.6% price increase for March 2023 was revised lower to a 0.5% increase.

For the nine census divisions, seasonally adjusted monthly price changed from March 2023 to April 2023 ranged from a 0.1% increase in the Pacific division to 2.4% increase in the New England division. The 12-month changes ranged from a 3.8% decline in the Pacific division to a 6.1% increase in the East South-Central division.

In remarks prepared for the release of the January 2023 HPI report, Dr. Nataliya Polkovnichenko, Ph.D., Supervisory Economist, in FHFA’s Division of Research and Statistics said, “U.S. house prices generally moderated in April. However, on a year-over-year basis, house prices in some regions of the country continued to decline.”