Home Prices Rise 1.5% Quarterly and 6.1% Annually – FHFA

The Federal Housing Finance Agency (FHFA) released it House Price Index (HPI) for Q3 2015. On average, home prices were 1.5% higher than Q2 2016, but 6.1% higher than Q3 2015. Other information provided by the index, included:

  • Home prices rose in 49 states between Q3 2015 and Q3 2016.  Delaware and the District of Columbia were the only areas not to see price increases.
  • The top five states in annual appreciation were:
    • Florida 10.7 %;
    • Oregon 10.4%;
    • Washington 10.4%;
    • Colorado 10.0%; and
    • Utah 9.5%.
  • Among metropolitan areas, annual price increases were greatest in the Tacoma-Lakewood, WA, where prices increased by 12.9%.  Prices were weakest in New Haven-Milford, CT, where they fell 1.7%.
  • The South Atlantic region experienced the strongest increase in the Q3, posting a 1.8% quarterly increase and a 7.1% annual increase.  Price appreciation was weakest in the New England region, where prices rose 0.8% from the last quarter.