FHFA: House Prices Up 12 Percent YOY

The Federal Housing Finance Agency's House Price Index reported a 1% month-over-month increase in home prices for January 2021 and a 12% increase in home prices from January 2020 to January 2021.

According to the report, for the nine census divisions, seasonally adjusted monthly house price changes from December 2020 to January 2021 ranged from -0.2% in the East South Central division to +1.5% in the Mountain division. The 12-month changes ranged from +10.2% in the West South Central division to +14.8% in the Mountain division.

“While house prices experienced historic growth rates in 2020 and into the new year, the monthly gains appear to be moderating," said Dr. Lynn Fisher, FHFA's deputy director of the Division of Research and Statistics. “House prices increased by 1.0% in January, which is relatively still high, but represents the smallest month-over-month gain since June 2020."

Each of the nine census divisions posted heavy growth in home prices year-over-year. The Middle Atlantic division saw the largest year-over-year growth, growing 8% to 12.6%. The Mountain division followed with a 7.4% increase to 14.8% and New England up 7.3% to 13.3% to round out the top three.

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