The Federal Housing Finance Agency published its House Price Index showing U.S. house prices increased 4.5% between the fourth quarter of 2023 and the fourth quarter of 2024, and rose 1.4% from the third quarter of 2024 to the fourth quarter of 2024. The seasonally adjusted monthly index for December increased 0.4% from November. Price gains were recorded in 49 states over the year, led by Connecticut, New Jersey, and Wyoming (each 8.3%), while Mississippi fell 0.2%. Among the 100 largest metropolitan areas, 92 posted increases, with the strongest annual rise in Urban Honolulu, HI (18.7%) and the steepest decline in Cape Coral-Fort Myers, FL (down 6.3%). All nine census divisions recorded year-over-year increases, led by the Middle Atlantic division (up 7.1%), while the West South Central division had the smallest increase (up 2.3%). FHFA said it will release the next monthly HPI report, covering data through January 2025, on March 25, 2025, and the next quarterly report, covering the first quarter of 2025 and monthly data for March 2025, on May 27, 2025. It also plans to adopt the Office of Management and Budget’s updated metropolitan area delineations starting with the next quarterly report, which may change the set of metropolitan areas included in future releases.
Federal Housing Finance Agency 2025-02-25
Federal Housing Finance Agency reports US house prices rose 4.5% year on year in Q4 2024
The Federal Housing Finance Agency reported a 4.5% increase in U.S. house prices from Q4 2023 to Q4 2024, with a 1.4% rise from Q3 to Q4 2024. Connecticut, New Jersey, and Wyoming led state gains at 8.3%, while Urban Honolulu, HI saw the highest metropolitan increase at 18.7%. The agency will adopt updated metropolitan area delineations in future reports.