FHFA Reports U.S. House Prices Up Month-Over-Month & Year-Over-Year in April 2022

According to the latest Federal Housing Finance Agency (FHFA) House Price Index (HPI®), released today, (6-28-22), nationwide U.S. home prices rose 1.6% month-over-month in April. The previously reported 1.5% price change for March 2022 was revised upward to 1.6%. Year-over-year (April 2021 \ April 2022) home prices have increased 18.8%.

According to the HPI for the nine census divisions, seasonally adjusted monthly house price changes from March 2022 to April 2022 ranged from +0.3% in the East South-Central division to +2.5% in the West South-Central division. The 12-month changes were all positive, ranging from +14.1 % in the Middle Atlantic division to +23.5% in the South Atlantic division.

In remarks prepared for the release of the April of 2022 HPI, Will Doerner, Ph.D., Supervisory Economist in FHFA’s Division of Research and Statistics said, “House price appreciation continues to remain elevated in April. The inventory of homes on the market remains low, which has continued to keep upward pressure on sales prices. Increasing mortgage rates have yet to offset demand enough to deter the strong price gains happening across the country.”

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Original Source:
House Price Index (HPI) Monthly Report