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U.S house price index, FHFA, seasonally adjusted (Q1 1991=100)
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 prices in U.S. (FHFA index, '), % change 1 yr
Nominal and inflation-adjusted ('real')
United States
Source: Federal Housing Finance Agency
Quarterly change in house prices, inflation-adjusted
Q1 | Q2 | Q3 | Q4 | |
2020 | 0.71% | 0.14% | ||
2019 | -0.95% | -0.26% | 0.1% | 1.17% |
2018 | 0.46% | -0.33% | 0.51% | 0.95% |
2017 | 0.36% | 0.42% | 1% | 1.88% |
2016 | 0.4% | -0.34% | 0.86% | 1.61% |
2015 | 0.93% | -0.08% | 1.27% | 1.96% |
2014 | 0.05% | -0.13% | 0.59% | 2.89% |
2013 | 1.24% | 4.32% | 3.18% | 2.71% |
2012 | -2.33% | 2.84% | 0.94% | 2.94% |
2011 | -3.54% | -1.19% | -1.1% | -1.08% |
2010 | -0.19% | 0.31% | -1.52% | -1.27% |
2009 | -5.96% | -2.45% | 2.06% | 1.56% |
2008 | -7.27% | -7.22% | -5.11% | -1.11% |
2007 | -1.59% | -4.12% | -3.16% | -5.13% |
2006 | 0.4% | -1.87% | -1.26% | 0.42% |
2005 | 3.34% | 2.81% | 1.01% | 4.4% |
2004 | 3.11% | 4.25% | 3.62% | 3.14% |
2003 | 0.67% | 2.33% | 2.86% | 5.03% |
2002 | 1.23% | 3.44% | 3.44% | 3.66% |
2001 | 2.04% | 0.48% | 1.88% | 2.62% |
2000 | 1.54% | 3.33% | 1.73% | 3.37% |
1999 | 1.53% | 1.99% | 1.65% | 2.5% |
1998 | 1.9% | 1.87% | 2.18% | 1.27% |
1997 | -0.1% | 0.97% | 0.69% | 2.01% |
1996 | -1.09% | -0.25% | -0.34% | 0.3% |
1995 | -1.33% | -1.23% | -0.25% | -0.07% |
1994 | -0.3% | -0.07% | -0.68% | 0.11% |
1993 | -1.52% | -1% | -0.99% | -0.43% |
1992 | -1.18% | -1.03% | -1.48% | -0.8% |
1991 | -3.14% | -0.61% | -0.29% | -0.66% |
1990 | -1.84% | -3.58% | -2.36% |
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.