U.S house price index, FHFA, seasonally adjusted (Q1 1991=100)
Economics Team | August, 29, 2020
United States
Real estate price trends in the United States. We use the Federal Housing Finance Agency quarterly indices for single-family detached properties, which use mortgage data from Fannie Mae and Freddie Mac. Another important data source is the S&P/ Case-Shiller Home Price Index, covering single-family houses in 20 major metropolitan areas. Both use the repeat-sales methodology.
House price changes in the U.S. (FHFA index), nominal and inflation-adjusted ('real')
% change over a year earlier
United States
Source: Federal Housing Finance Agency
Quarterly Change in house prices
| Q1 | Q2 | Q3 | Q4 | |
| 2020 | 1.27 | 1.4 | ||
| 2019 | 0.86 | 0.12 | 0.96 | 1.3 |
| 2018 | 0.92 | 0.32 | 0.97 | 1.34 |
| 2017 | 0.47 | 1.21 | 1.25 | 1.24 |
| 2016 | 1.29 | 0.21 | 1.19 | 1.42 |
| 2015 | 1.93 | 0.09 | 1.04 | 1.93 |
| 2014 | 0.49 | -0.27 | 1.01 | 2.14 |
| 2013 | 1.48 | 1.53 | 1.21 | 1.29 |
| 2012 | -0.34 | 0.8 | 1.01 | 1.46 |
| 2011 | -3.43 | -2.52 | -0.03 | 0.33 |
| 2010 | -1.33 | -0.94 | -1.74 | -1.29 |
| 2009 | -0.04 | -2.48 | -1.14 | -0.29 |
| 2008 | -3.44 | -4.87 | -3.64 | -0.11 |
| 2007 | -0.4 | -2.13 | -1.53 | -2.48 |
| 2006 | 0.93 | -0.96 | -0.38 | 1.36 |
| 2005 | 1.85 | 1.28 | 1.38 | 1.6 |
| 2004 | 1.32 | 1.07 | 2.22 | 1.87 |
| 2003 | 0.76 | 1.23 | 1.47 | 2.25 |
| 2002 | 1.31 | 0.75 | 1.48 | 1.68 |
| 2001 | 0.88 | 0.56 | 1.4 | 1.86 |
| 2000 | 0.77 | 0.61 | 0.8 | 1.2 |
| 1999 | 1.07 | 0.51 | 0.93 | 0.89 |
| 1998 | 0.98 | 0.84 | 0.92 | 1.28 |
| 1997 | -0.05 | 0.45 | 0.34 | 0.68 |
| 1996 | -0.03 | -0.33 | 0.14 | -0.16 |
| 1995 | -0.17 | -0.33 | 0.51 | 0.1 |
| 1994 | 0.25 | 0.2 | -0.26 | 0.04 |
| 1993 | -0.8 | 0.23 | 0.35 | 0.27 |
| 1992 | 0.51 | -0.94 | 0.08 | 0.08 |
| 1991 | -0.59 | -0.6 | 0.11 |
This table shows the change in house prices during a single quarter, adjusted for inflation.
Adjusting house price rises (or declines) for inflation produces a more accurate picture of the change in value of housing than the usual nominal figures cited in the newspapers.
