U.S. Home Prices Increase 10.8% Between Q4 2019 to Q4 2020

According to the Federal Housing Finance Agency (FHFA), House Price Index (HPI®) U.S. house prices increased 10.8% between Q4 of 2019 and Q4 of 2020. House prices were up 3.8% when compared to Q3 of 2020. FHFA’s seasonally adjusted monthly index for December was up 1.1% from November. In prepared remarks for the release of this report Dr. Lynn Fisher, Deputy Director of FHFA’s Division of Research and Statistics, said, “House prices nationwide recorded the largest annual and quarterly increase in the history of the FHFA HPI. Low mortgage rates, pent up demand from homebuyers, and a limited housing supply propelled every region of the country to experience faster growth in 2020 compared to a year ago despite the pandemic. In particular, house prices in western states and cities saw the highest rates of growth, where annual gains often rose above 10%.”