{"id":316411,"date":"2024-09-18T15:12:52","date_gmt":"2024-09-18T15:12:52","guid":{"rendered":"https:\/\/www.techopedia.com\/?post_type=definition&#038;p=316411"},"modified":"2024-09-18T15:12:52","modified_gmt":"2024-09-18T15:12:52","slug":"house-price-index-hpi","status":"publish","type":"definition","link":"https:\/\/www.techopedia.com\/definition\/house-price-index-hpi","title":{"rendered":"House Price Index (HPI)"},"content":{"rendered":"<h2><span id=\"what_is_the_house_price_index_hpi\">What is the House Price Index (HPI)?<\/span><\/h2>\n<p>The FHFA house price index (HPI) is a broad economic measure that charts the movement of single-family house prices in the United States.<\/p>\n<p>It highlights changes in the average price of sales or refinancings on the same properties to give an insight into how the <a href=\"https:\/\/www.techopedia.com\/housing-market-predictions\">housing market<\/a> is performing.<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/www.techopedia.com\/wp-content\/uploads\/2024\/09\/What-is-the-House-Price-Index-HPI-300x163.jpg\" alt=\"What is the House Price Index (HPI)\" width=\"1200\" height=\"650\" class=\"aligncenter wp-image-316436\" srcset=\"https:\/\/www.techopedia.com\/wp-content\/uploads\/2024\/09\/What-is-the-House-Price-Index-HPI-300x163.jpg 300w, https:\/\/www.techopedia.com\/wp-content\/uploads\/2024\/09\/What-is-the-House-Price-Index-HPI-1024x555.jpg 1024w, https:\/\/www.techopedia.com\/wp-content\/uploads\/2024\/09\/What-is-the-House-Price-Index-HPI-768x416.jpg 768w, https:\/\/www.techopedia.com\/wp-content\/uploads\/2024\/09\/What-is-the-House-Price-Index-HPI-1536x833.jpg 1536w, https:\/\/www.techopedia.com\/wp-content\/uploads\/2024\/09\/What-is-the-House-Price-Index-HPI-1200x650.jpg 1200w, https:\/\/www.techopedia.com\/wp-content\/uploads\/2024\/09\/What-is-the-House-Price-Index-HPI-1980x1073.jpg 1980w, https:\/\/www.techopedia.com\/wp-content\/uploads\/2024\/09\/What-is-the-House-Price-Index-HPI.jpg 2048w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><\/p>\n<div class=\"su-note\"  style=\"border-color:#dddddd;border-radius:3px;-moz-border-radius:3px;-webkit-border-radius:3px;\"><div class=\"su-note-inner su-u-clearfix su-u-trim\" style=\"background-color:#f7f7f7;border-color:#ffffff;color:#333333;border-radius:3px;-moz-border-radius:3px;-webkit-border-radius:3px;\">\n<h2><span id=\"key_takeaways\">Key Takeaways<\/span><\/h2>\n<ul>\n<li>The house price index is a broad measure of the movement in single-family house prices in the United States.<\/li>\n<li>It is a key indicator that investors, analysts, and homebuyers can use to assess and monitor economic trends.<\/li>\n<li>The HPI is published by the Federal Housing Finance Agency (FHFA), which examines data on both a monthly and quarterly basis.<\/li>\n<li>It is one of several indices used to analyze the US real estate market, and its data goes back many years.<\/li>\n<li>It&#8217;s possible to use an online calculator to estimate how much a house bought years ago could be worth today.<\/li>\n<\/ul>\n<\/div><\/div>\n<div>\n    <section class=\"toc-sticky w-100 bg-white \">\n        <div class=\"toc-sticky__container container\">\n            <div class=\"toc-sticky__open d-flex align-items-end\" data-bs-toggle=\"collapse\"\n                 aria-controls=\"multiCollapse1\"\n                 data-bs-target=\"#multiCollapse1\">\n                <button\n                        class=\"btn btn-primary collapse-action-btn p-1 rounded-circle\"\n                        type=\"button\"\n                >\n                    <i class=\"icon-chevron-up\"><\/i>\n                <\/button>\n                <span id=\"toc-current-title\" class=\"d-flex align-items-center\">\n                    Table of Contents\n                <\/span>\n                <span class=\"toc-main-title-permanent\">Table of Contents<\/span>\n            <\/div>\n            <div\n                    class=\"collapse my-3\"\n                    id=\"multiCollapse1\"\n            >\n                <ol class=\"StepProgress\">\n                                                                        <li class=\"StepProgress-item current\">\n                                                <div class=\"StepProgress-item__group\">\n                            <a data-id=\"what_is_the_house_price_index_hpi\"\n                               onclick=handleScrollToTitle(\"what_is_the_house_price_index_hpi\")\n                               class=\"StepProgress-item__link\" data-level=\"2\">What is the House Price Index (HPI)?<\/a>\n                                                    <\/div>\n                                                <\/li>\n                                                                        <li class=\"StepProgress-item\">\n                                                <div class=\"StepProgress-item__group\">\n                            <a data-id=\"key_takeaways\"\n                               onclick=handleScrollToTitle(\"key_takeaways\")\n                               class=\"StepProgress-item__link\" data-level=\"2\">Key Takeaways<\/a>\n                                                    <\/div>\n                                                <\/li>\n                                                                        <li class=\"StepProgress-item\">\n                                                <div class=\"StepProgress-item__group\">\n                            <a data-id=\"how_the_house_price_index_is_used\"\n                               onclick=handleScrollToTitle(\"how_the_house_price_index_is_used\")\n                               class=\"StepProgress-item__link\" data-level=\"2\">How the House Price Index is Used<\/a>\n                                                    <\/div>\n                                                <\/li>\n                                                                        <li class=\"StepProgress-item\">\n                                                <div class=\"StepProgress-item__group\">\n                            <a data-id=\"the_house_price_index_vs_the_sp_corelogic_case-shiller_home_price_indexes\"\n                               onclick=handleScrollToTitle(\"the_house_price_index_vs_the_sp_corelogic_case-shiller_home_price_indexes\")\n                               class=\"StepProgress-item__link\" data-level=\"2\">The House Price Index vs. the S&amp;P CoreLogic Case-Shiller Home Price Indexes<\/a>\n                                                    <\/div>\n                                                <\/li>\n                                                                        <li class=\"StepProgress-item\">\n                                                <div class=\"StepProgress-item__group\">\n                            <a data-id=\"house_price_index_example\"\n                               onclick=handleScrollToTitle(\"house_price_index_example\")\n                               class=\"StepProgress-item__link\" data-level=\"2\">House Price Index Example<\/a>\n                                                    <\/div>\n                                                <\/li>\n                                                                        <li class=\"StepProgress-item\">\n                                                <div class=\"StepProgress-item__group\">\n                            <a data-id=\"fhfa_house_price_index_calculator\"\n                               onclick=handleScrollToTitle(\"fhfa_house_price_index_calculator\")\n                               class=\"StepProgress-item__link\" data-level=\"2\">FHFA House Price Index Calculator<\/a>\n                                                    <\/div>\n                                                <\/li>\n                                                                        <li class=\"StepProgress-item\">\n                                                <div class=\"StepProgress-item__group\">\n                            <a data-id=\"the_bottom_line\"\n                               onclick=handleScrollToTitle(\"the_bottom_line\")\n                               class=\"StepProgress-item__link\" data-level=\"2\">The Bottom Line<\/a>\n                                                    <\/div>\n                                                <\/li>\n                                                                        <li class=\"StepProgress-item\">\n                                                <div class=\"StepProgress-item__group\">\n                            <a data-id=\"faqs\"\n                               onclick=handleScrollToTitle(\"faqs\")\n                               class=\"StepProgress-item__link\" data-level=\"2\">FAQs<\/a>\n                                                    <\/div>\n                                                <\/li>\n                                                                        <li class=\"StepProgress-item\">\n                                                <div class=\"StepProgress-item__group\">\n                            <a data-id=\"references\"\n                               onclick=handleScrollToTitle(\"references\")\n                               class=\"StepProgress-item__link\" data-level=\"2\">References<\/a>\n                                                    <\/div>\n                                                <\/li>\n                                    <\/ol>\n                <div class=\"toc-sticky__container__disperse\"><\/div>\n                <div class=\"toc-sticky__btn-top justify-content-center\">\n                    <button class=\"btn btn-link d-flex align-items-center\" onclick={btnTop()}><p>Show Full Guide<\/p><img decoding=\"async\"\n                                src=\"\/wp-content\/plugins\/table-of-contents\/assets\/images\/arrow-up-circle.svg\"\n                                alt=\"arrow-up-circle\">\n                    <\/button>\n                <\/div>\n            <\/div>\n        <\/div>\n    <\/section>\n    <div class=\"toc-sticky-list\">\n        <div class=\"toc-sticky__container container\">\n            <div class=\"toc-sticky__open d-flex align-items-end\" data-bs-toggle=\"collapse\" aria-controls=\"multiCollapse2\" data-bs-target=\"#multiCollapse2\">\n                <button class=\"btn btn-primary collapse-action-btn p-1 rounded-circle\"\n                        type=\"button\">\n                    <i class=\"icon-chevron-up up\"><\/i>\n                <\/button>\n                <span id=\"toc-current-title\" class=\"d-flex align-items-center\">\n                    Table of Contents\n                <\/span>\n            <\/div>\n            <div  class=\"collapse my-3\" id=\"multiCollapse2\">\n                <ol class=\"StepProgress\">\n                    \t\t\t\t\t \t\t\t\t\t                                                     <li class=\"StepProgress-item current \">\n                                                    <div class=\"StepProgress-item__group\">\n                                <a data-id=\"what_is_the_house_price_index_hpi\"\n                                   onclick=handleScrollToTitle(\"what_is_the_house_price_index_hpi\")\n                                   class=\"StepProgress-item__link\"\n                                   data-level=\"2\">What is the House Price Index (HPI)?<\/a>\n                                                            <\/div>\n                                                    <\/li>\n                    \t\t\t\t\t \t\t\t\t\t                                                     <li class=\"StepProgress-item \">\n                                                    <div class=\"StepProgress-item__group\">\n                                <a data-id=\"key_takeaways\"\n                                   onclick=handleScrollToTitle(\"key_takeaways\")\n                                   class=\"StepProgress-item__link\"\n                                   data-level=\"2\">Key Takeaways<\/a>\n                                                            <\/div>\n                                                    <\/li>\n                    \t\t\t\t\t \t\t\t\t\t                                                     <li class=\"StepProgress-item \">\n                                                    <div class=\"StepProgress-item__group\">\n                                <a data-id=\"how_the_house_price_index_is_used\"\n                                   onclick=handleScrollToTitle(\"how_the_house_price_index_is_used\")\n                                   class=\"StepProgress-item__link\"\n                                   data-level=\"2\">How the House Price Index is Used<\/a>\n                                                            <\/div>\n                                                    <\/li>\n                    \t\t\t\t\t \t\t\t\t\t\n\t\t\t\t\t\t <span class=\"show_moretoc\">Show Full Guide<\/span>\n\t\t\t\t\t\t \t\t\t\t\t \t\t\t\t\t\t  \t\t\t\t\t                                                      <li class=\"StepProgress-item ms_hidetoc\">\n                                                    <div class=\"StepProgress-item__group\">\n                                <a data-id=\"the_house_price_index_vs_the_sp_corelogic_case-shiller_home_price_indexes\"\n                                   onclick=handleScrollToTitle(\"the_house_price_index_vs_the_sp_corelogic_case-shiller_home_price_indexes\")\n                                   class=\"StepProgress-item__link\"\n                                   data-level=\"2\">The House Price Index vs. the S&amp;P CoreLogic Case-Shiller Home Price Indexes<\/a>\n                                                            <\/div>\n                                                    <\/li>\n                    \t\t\t\t\t \t\t\t\t\t \t\t\t\t\t\t  \t\t\t\t\t                                                      <li class=\"StepProgress-item ms_hidetoc\">\n                                                    <div class=\"StepProgress-item__group\">\n                                <a data-id=\"house_price_index_example\"\n                                   onclick=handleScrollToTitle(\"house_price_index_example\")\n                                   class=\"StepProgress-item__link\"\n                                   data-level=\"2\">House Price Index Example<\/a>\n                                                            <\/div>\n                                                    <\/li>\n                    \t\t\t\t\t \t\t\t\t\t \t\t\t\t\t\t  \t\t\t\t\t                                                      <li class=\"StepProgress-item ms_hidetoc\">\n                                                    <div class=\"StepProgress-item__group\">\n                                <a data-id=\"fhfa_house_price_index_calculator\"\n                                   onclick=handleScrollToTitle(\"fhfa_house_price_index_calculator\")\n                                   class=\"StepProgress-item__link\"\n                                   data-level=\"2\">FHFA House Price Index Calculator<\/a>\n                                                            <\/div>\n                                                    <\/li>\n                    \t\t\t\t\t \t\t\t\t\t \t\t\t\t\t\t  \t\t\t\t\t                                                      <li class=\"StepProgress-item ms_hidetoc\">\n                                                    <div class=\"StepProgress-item__group\">\n                                <a data-id=\"the_bottom_line\"\n                                   onclick=handleScrollToTitle(\"the_bottom_line\")\n                                   class=\"StepProgress-item__link\"\n                                   data-level=\"2\">The Bottom Line<\/a>\n                                                            <\/div>\n                                                    <\/li>\n                    \t\t\t\t\t \t\t\t\t\t \t\t\t\t\t\t  \t\t\t\t\t                                                      <li class=\"StepProgress-item ms_hidetoc\">\n                                                    <div class=\"StepProgress-item__group\">\n                                <a data-id=\"faqs\"\n                                   onclick=handleScrollToTitle(\"faqs\")\n                                   class=\"StepProgress-item__link\"\n                                   data-level=\"2\">FAQs<\/a>\n                                                            <\/div>\n                                                    <\/li>\n                    \t\t\t\t\t \t\t\t\t\t \t\t\t\t\t\t  \t\t\t\t\t                                                      <li class=\"StepProgress-item 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pageLegend.classList.remove('overflow-auto');\n        pageLegend.style.height = 'auto';\n        window.scrollTo({\n            top: 0,\n            behavior: 'smooth'\n        });\n    }\n\n    const handleScrollToTitle = (id) => {\n        const el = document.getElementById(id);\n        const headerHeightDifference = window.innerWidth < 992 ? -30 : -15;\n        window.scrollTo({\n            top: el.offsetTop - 60 - headerHeightDifference - 10,\n        });\n    }\n<\/script>\n\n<h2><span id=\"how_the_house_price_index_is_used\">How the House Price Index is Used<\/span><\/h2>\n<p>The next stage is looking at the role played by the US house price index and why it is an important economic measure for many people.<\/p>\n<p>Information about the demand for homes and the prices paid for them provides a useful insight into the economic wealth of a country. It can be used to assess feelings of optimism among buyers and sellers, as well as help shine a spotlight on affordability and the impact of <a href=\"https:\/\/www.techopedia.com\/definition\/inflation\">inflation<\/a>.<\/p>\n<p>Therefore, the <a href=\"https:\/\/www.techopedia.com\/definition\/807\/data\">data<\/a> provided by the HPI will be used by economists and analysts, as well as anyone interested in how property values are rising and falling, such as realtors.<\/p>\n<h2><span id=\"the_house_price_index_vs_the_sp_corelogic_case-shiller_home_price_indexes\">The House Price Index vs. the S&amp;P CoreLogic Case-Shiller Home Price Indexes<\/span><\/h2>\n<p>There are numerous indices and analytical reports published by different organizations to monitor and assess the US real estate market. They will all take slightly different approaches, which makes it difficult to answer the question: &#8220;What is the most accurate house price index?&#8221;<\/p>\n<p>Here we take a closer look at both the FHFA house price index and the S&amp;P CoreLogic Case-Shiller Home Price Index.<\/p>\n<h3>FHFA House Price Index (HPI)<\/h3>\n<p>So, as far as the FHFA version is concerned, how is the HPI calculated? The index measures average price changes in sales or refinancings on the same properties.<\/p>\n<p>This information is obtained by reviewing transactions made on single-family properties with mortgages purchased (or securitized) by Fannie Mae or Freddie Mac.<\/p>\n<p>It&#8217;s also worth noting that new mortgage acquisitions are used to identify repeat transactions for the most recent period, as well as each subsequent period since 1975.<\/p>\n<p>Now, the HPI actually refers to the whole suite of indices that are compiled by FHFA, covering a variety of market geographies and periods. It <a href=\"https:\/\/www.fhfa.gov\/data\/hpi#ReleaseDates\" target=\"_blank\">releases<\/a> monthly and quarterly reports.<\/p>\n<h3>S&amp;P CoreLogic Case-Shiller Home Price Index<\/h3>\n<p>The <a href=\"https:\/\/www.spglobal.com\/spdji\/en\/index-family\/indicators\/sp-corelogic-case-shiller\/sp-corelogic-case-shiller-composite\/#news-research\" target=\"_blank\">S&amp;P CoreLogic Case-Shiller Home Price Index<\/a> is another leading measure of US residential real estate prices.<\/p>\n<p>It is a family of indices that tracks changes in the value of residential real estate for the nine US Census divisions and is calculated on a monthly basis.<\/p>\n<p><a href=\"https:\/\/www.spglobal.com\/spdji\/en\/documents\/methodologies\/methodology-sp-corelogic-cs-home-price-indices.pdf\" target=\"_blank\">It&#8217;s designed to measure movements<\/a> in the total value of all existing single-family housing <a href=\"https:\/\/www.techopedia.com\/definition\/stock\">stock<\/a> by using samples and relevant transaction data.<\/p>\n<p>However, it doesn&#8217;t include sample sale prices associated with new construction, condominiums, co-ops\/apartments, and multi-family dwellings.<\/p>\n<h2><span id=\"house_price_index_example\">House Price Index Example<\/span><\/h2>\n<p>So, how does the HPI work in reality?<\/p>\n<p>Let&#8217;s take the most recent <a href=\"https:\/\/www.fhfa.gov\/sites\/default\/files\/2024-08\/HPI_2024Q2.pdf\" target=\"_blank\">FHFA house price index<\/a>, which was published in late August 2024 and covers the second quarter of 2024.<\/p>\n<p>The quarterly data revealed prices were 0.9% higher than the first quarter of 2024 and had risen 5.7% over the last year.<\/p>\n<p>Its findings included:<\/p>\n<div class=\"su-list\" style=\"margin-left:0px\">\n<ul>\n<li><i class=\"sui sui-check-circle\" style=\"color:#3CB371\"><\/i> The US housing market has experienced positive annual appreciation in each quarter since the start of 2012<\/li>\n<li><i class=\"sui sui-check-circle\" style=\"color:#3CB371\"><\/i> House prices rose in 50 states and the District of Columbia between the second quarter of 2023 and the same period in 2024<\/li>\n<li><i class=\"sui sui-check-circle\" style=\"color:#3CB371\"><\/i> House prices rose in 96 of the top 100 largest metropolitan areas over the last four quarters<\/li>\n<\/ul>\n<\/div>\n<p>Dr Anju Vajja, Deputy Director for FHFA&#8217;s Division of Research and Statistics, noted that US house prices had experienced their third consecutive slowdown in quarterly growth.<\/p>\n<p>He said: &#8220;The slower pace of appreciation as of June end was likely due to higher inventory of homes for sale and elevated mortgage rates.&#8221;<\/p>\n<p>Here is a <strong>house price index chart<\/strong> that charts house price appreciation in the US <i>from the first quarter of 1992 to the second quarter of 2024<\/i>.<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/www.techopedia.com\/wp-content\/uploads\/2024\/09\/House-Price-Appreciation-for-U.S.-Purchase-Only-FHFA-HPI\u00ae-Seasonally-Adjusted_-Nominal-through-2024Q2-300x279.jpg\" alt=\"House Price Appreciation for U.S. Purchase-Only FHFA HPI\u00ae (Seasonally Adjusted_ Nominal) through 2024Q2\" width=\"1200\" height=\"1116\" class=\"aligncenter wp-image-316478\" srcset=\"https:\/\/www.techopedia.com\/wp-content\/uploads\/2024\/09\/House-Price-Appreciation-for-U.S.-Purchase-Only-FHFA-HPI\u00ae-Seasonally-Adjusted_-Nominal-through-2024Q2-300x279.jpg 300w, https:\/\/www.techopedia.com\/wp-content\/uploads\/2024\/09\/House-Price-Appreciation-for-U.S.-Purchase-Only-FHFA-HPI\u00ae-Seasonally-Adjusted_-Nominal-through-2024Q2-1024x953.jpg 1024w, https:\/\/www.techopedia.com\/wp-content\/uploads\/2024\/09\/House-Price-Appreciation-for-U.S.-Purchase-Only-FHFA-HPI\u00ae-Seasonally-Adjusted_-Nominal-through-2024Q2-768x714.jpg 768w, https:\/\/www.techopedia.com\/wp-content\/uploads\/2024\/09\/House-Price-Appreciation-for-U.S.-Purchase-Only-FHFA-HPI\u00ae-Seasonally-Adjusted_-Nominal-through-2024Q2-1536x1429.jpg 1536w, https:\/\/www.techopedia.com\/wp-content\/uploads\/2024\/09\/House-Price-Appreciation-for-U.S.-Purchase-Only-FHFA-HPI\u00ae-Seasonally-Adjusted_-Nominal-through-2024Q2-1200x1116.jpg 1200w, https:\/\/www.techopedia.com\/wp-content\/uploads\/2024\/09\/House-Price-Appreciation-for-U.S.-Purchase-Only-FHFA-HPI\u00ae-Seasonally-Adjusted_-Nominal-through-2024Q2-1980x1842.jpg 1980w, https:\/\/www.techopedia.com\/wp-content\/uploads\/2024\/09\/House-Price-Appreciation-for-U.S.-Purchase-Only-FHFA-HPI\u00ae-Seasonally-Adjusted_-Nominal-through-2024Q2.jpg 2048w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><\/p>\n<h2><span id=\"fhfa_house_price_index_calculator\">FHFA House Price Index Calculator<\/span><\/h2>\n<p>There is also a way of estimating the likely value of a particular property by using this online <a href=\"https:\/\/www.fhfa.gov\/data\/hpi\/datasets?tab=hpi-calculator\" target=\"_blank\">FHFA calculator<\/a>. However, this doesn&#8217;t project the value of individual properties as these can be affected by factors such as the local area and the house&#8217;s age\/condition.<\/p>\n<p>Instead, the calculator forecasts what a house purchased at a set time would be worth today if it rose at the average appreciation rate of all homes in the area.<\/p>\n<p>Users need to input where the house was purchased, the price paid, and the period for which they want a valuation.<\/p>\n<figure id=\"attachment_316423\" aria-describedby=\"caption-attachment-316423\" style=\"width: 1200px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" src=\"https:\/\/www.techopedia.com\/wp-content\/uploads\/2024\/09\/FHFA-House-Price-Index-Calculator-300x74.jpg\" alt=\"FHFA House Price Index Calculator\" width=\"1200\" height=\"296\" class=\"wp-image-316423\" srcset=\"https:\/\/www.techopedia.com\/wp-content\/uploads\/2024\/09\/FHFA-House-Price-Index-Calculator-300x74.jpg 300w, https:\/\/www.techopedia.com\/wp-content\/uploads\/2024\/09\/FHFA-House-Price-Index-Calculator-1024x253.jpg 1024w, https:\/\/www.techopedia.com\/wp-content\/uploads\/2024\/09\/FHFA-House-Price-Index-Calculator-768x190.jpg 768w, https:\/\/www.techopedia.com\/wp-content\/uploads\/2024\/09\/FHFA-House-Price-Index-Calculator-1536x379.jpg 1536w, https:\/\/www.techopedia.com\/wp-content\/uploads\/2024\/09\/FHFA-House-Price-Index-Calculator-1200x296.jpg 1200w, https:\/\/www.techopedia.com\/wp-content\/uploads\/2024\/09\/FHFA-House-Price-Index-Calculator.jpg 1774w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><figcaption id=\"caption-attachment-316423\" class=\"wp-caption-text\">Source: FHFA<\/figcaption><\/figure>\n<h2><span id=\"the_bottom_line\">The Bottom Line<\/span><\/h2>\n<p>The clearest house price index definition is that it measures movements in the value of US homes and provides data to interested parties. The movement in house prices is of importance to millions of people around the world as their homes are likely to be the biggest purchase they ever make.<\/p>\n<p>First-time buyers who want to get onto the property ladder will want to know whether prices are likely to rise over the coming months. Similarly, existing homeowners will be keen to gauge how much more their property is worth today than when they first moved in.<\/p>\n<p>However, analysts, economists, fund managers, and politicians also use the HPI as a key economic indicator because of the insight it can provide into our financial health.<\/p>\n<h2><span id=\"faqs\">FAQs<\/span><\/h2>\n<div class=\"man_faq_sec\" itemscope itemtype=\"https:\/\/schema.org\/FAQPage\"><\/time><section class=\"ms_faq ms_card \" ><div itemscope itemprop=\"mainEntity\" itemtype=\"https:\/\/schema.org\/Question\"><div class=\"accordionButton\"><h3 itemprop=\"name\">What is a house price index in simple terms?<\/h3> <\/div>\n<div class=\"accordionContent\" itemscope itemprop=\"acceptedAnswer\" itemtype=\"https:\/\/schema.org\/Answer\" style=\"display:none;\"><p itemprop=\"text\">The most accurate house price index meaning is a measure of the movement in the value of properties. It enables people to see whether their home has risen or fallen in value.<\/p>\r\n                <\/div><\/div><\/section>\n<section class=\"ms_faq ms_card \" ><div itemscope itemprop=\"mainEntity\" itemtype=\"https:\/\/schema.org\/Question\"><div class=\"accordionButton\"><h3 itemprop=\"name\">What is the most reliable house price index?<\/h3> <\/div>\n<div class=\"accordionContent\" itemscope itemprop=\"acceptedAnswer\" itemtype=\"https:\/\/schema.org\/Answer\" style=\"display:none;\"><p itemprop=\"text\">There are several sources available to those examining house prices in the United States so it depends on your focus. However, the FHFA house price index is seen as a pretty comprehensive measure of valuation movements.<\/p>\r\n                <\/div><\/div><\/section>\n<section class=\"ms_faq ms_card \" ><div itemscope itemprop=\"mainEntity\" itemtype=\"https:\/\/schema.org\/Question\"><div class=\"accordionButton\"><h3 itemprop=\"name\">What is the US house price index today?<\/h3> <\/div>\n<div class=\"accordionContent\" itemscope itemprop=\"acceptedAnswer\" itemtype=\"https:\/\/schema.org\/Answer\" style=\"display:none;\"><p itemprop=\"text\">US house prices have risen 5.7% over the past year, according to the latest FHFA house price index that was <a href=\"https:\/\/www.fhfa.gov\/sites\/default\/files\/2024-08\/HPI_2024Q2.pdf\" target=\"_blank\">released in late August 2024<\/a>.<\/p>\r\n                <\/div><\/div><\/section>\n<section class=\"ms_faq ms_card \" ><div itemscope itemprop=\"mainEntity\" itemtype=\"https:\/\/schema.org\/Question\"><div class=\"accordionButton\"><h3 itemprop=\"name\">What brings down the value of a house?<\/h3> <\/div>\n<div class=\"accordionContent\" itemscope itemprop=\"acceptedAnswer\" itemtype=\"https:\/\/schema.org\/Answer\" style=\"display:none;\"><p itemprop=\"text\">Economic problems, such as a recession, can bring down the value of homes. Local issues can also affect the price, such as crime in the neighborhood or bad local schools, as well as property-specific factors. These may include poor maintenance and bad energy efficiency.<\/p>\r\n                <\/div><\/div><\/section>\n<section class=\"ms_faq ms_card \" ><div itemscope itemprop=\"mainEntity\" itemtype=\"https:\/\/schema.org\/Question\"><div class=\"accordionButton\"><h3 itemprop=\"name\">How does the value of currency affect housing prices?<\/h3> <\/div>\n<div class=\"accordionContent\" itemscope itemprop=\"acceptedAnswer\" itemtype=\"https:\/\/schema.org\/Answer\" style=\"display:none;\"><p itemprop=\"text\">This has to do with inflation, which is the amount by which the cost of goods and services is increasing. When inflation rises, mortgage rates usually increase. This can have a negative effect on the real estate market as borrowing is less affordable.<\/p>\r\n                <\/div><\/div><\/section>\n<div class=\"reference-content\">\n<div class=\"reference-heading reference-content-collapsible-heading\">\n<h2><span id=\"references\">References<\/span><\/h2>\n<\/div>\n<div class=\"reference-content-body\">\n<ol>\n<li><a href=\"https:\/\/www.fhfa.gov\/data\/hpi#ReleaseDates\" target=\"_blank\">FHFA House Price Index<\/a> (Fhfa)<\/li>\n<li><a href=\"https:\/\/www.spglobal.com\/spdji\/en\/index-family\/indicators\/sp-corelogic-case-shiller\/sp-corelogic-case-shiller-composite\/#news-research\" target=\"_blank\">S&amp;P CoreLogic Case-Shiller Home Price Indices &#8211; Indices | S&amp;P Dow Jones Indices<\/a> (Spglobal)<\/li>\n<li><a href=\"https:\/\/www.spglobal.com\/spdji\/en\/documents\/methodologies\/methodology-sp-corelogic-cs-home-price-indices.pdf\" target=\"_blank\">S&amp;P CoreLogic Case-Shiller Home Price Indices Methodology<\/a> (Spglobal)<\/li>\n<li><a href=\"https:\/\/www.fhfa.gov\/sites\/default\/files\/2024-08\/HPI_2024Q2.pdf\" target=\"_blank\">FHFA Quarterly HPI<\/a> (Fhfa)<\/li>\n<li><a href=\"https:\/\/www.fhfa.gov\/data\/hpi\/datasets?tab=hpi-calculator\" target=\"_blank\">House Price Index Datasets | FEDERAL HOUSING FINANCE AGENCY<\/a> (Fhfa)<\/li>\n<\/ol>\n<\/div>\n<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>What is the House Price Index (HPI)? The FHFA house price index (HPI) is a broad economic measure that charts the movement of single-family house prices in the United States. It highlights changes in the average price of sales or refinancings on the same properties to give an insight into how the housing market is [&hellip;]<\/p>\n","protected":false},"author":286864,"featured_media":316435,"comment_status":"open","ping_status":"closed","template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"no","_lmt_disable":"","om_disable_all_campaigns":false,"footnotes":""},"definitioncat":[251],"class_list":["post-316411","definition","type-definition","status-publish","format-standard","has-post-thumbnail","hentry","definitioncat-analytics"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.2 (Yoast SEO v24.5) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What is the House Price Index? 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