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% | 0.10% | 1.17% |
| 2018 | 0.46% | -0.33% | 0.51% | 0.95% |
| 2017 | 0.36% | 0.42% | 1.00% | 1.88% |
| 2016 | 0.40% | -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% | -1.10% | -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 | 0.40% | -1.87% | -1.26% | 0.42% |
| 2005 | 3.34% | 2.81% | 1.01% | 4.40% |
| 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% | 2.50% |
| 1998 | 1.90% | 1.87% | 2.18% | 1.27% |
| 1997 | -0.10% | 0.97% | 0.69% | 2.01% |
| 1996 | -1.09% | -0.25% | -0.34% | 0.30% |
| 1995 | -1.33% | -1.23% | -0.25% | -0.07% |
| 1994 | -0.30% | -0.07% | -0.68% | 0.11% |
| 1993 | -1.52% | -1.00% | -0.99% | -0.43% |
| 1992 | -1.18% | -1.03% | -1.48% | -0.80% |
| 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.
Yearly change in house prices, nominal and inflation-adjusted
| Year | Inflation Adjusted | Nominal Change |
| 2019 | 0.05% | 2.34% |
| 2018 | 1.60% | 3.54% |
| 2017 | 3.71% | 5.89% |
| 2016 | 2.53% | 4.66% |
| 2015 | 4.13% | 4.89% |
| 2014 | 3.40% | 4.18% |
| 2013 | 11.93% | 13.62% |
| 2012 | 4.37% | 6.18% |
| 2011 | -6.75% | -3.99% |
| 2010 | -2.64% | -1.19% |
| 2009 | -4.91% | -2.32% |
| 2008 | -19.27% | -19.19% |
| 2007 | -13.31% | -9.78% |
| 2006 | -2.31% | 0.17% |
| 2005 | 12.04% | 15.86% |
| 2004 | 14.89% | 18.63% |
| 2003 | 11.29% | 13.38% |
| 2002 | 12.29% | 14.96% |
| 2001 | 7.19% | 8.86% |
| 2000 | 10.35% | 14.08% |
| 1999 | 7.89% | 10.79% |
| 1998 | 7.41% | 9.14% |
| 1997 | 3.61% | 5.37% |
| 1996 | -1.38% | 1.90% |
| 1995 | -2.85% | -0.38% |
| 1994 | -0.93% | 1.71% |
| 1993 | -3.88% | -1.24% |
| 1992 | -4.42% | -1.65% |
| 1991 | -4.64% | -1.72% |
This table shows how house prices have changed over each year. It compares the latest quarter or month of a given year with the same period the year before, so you can quickly see whether prices went up or down over that year.
