U.S house price index, FHFA, seasonally adjusted (Q1 1991=100)
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')
Quarterly change in house prices, inflation-adjusted
| Q1 | Q2 | Q3 | Q4 | |
| 2025 | 0.03% | 0.32% | -1.49% | |
| 2024 | 0.10% | 2.05% | -0.54% | -0.53% |
| 2023 | -0.60% | 2.56% | 0.46% | -0.17% |
| 2022 | 2.68% | 1.37% | -2.68% | -2.03% |
| 2021 | 2.47% | 4.26% | 2.94% | 0.98% |
| 2020 | 0.72% | 0.62% | 3.26% | 3.26% |
| 2019 | -0.71% | -0.03% | 0.82% | 1.39% |
| 2018 | 0.20% | 0.14% | 0.86% | 1.38% |
| 2017 | 0.24% | 0.86% | 0.93% | 1.89% |
| 2016 | 0.24% | -0.13% | 1.34% | 1.59% |
| 2015 | 0.48% | -0.08% | 1.66% | 2.17% |
| 2014 | -0.10% | -0.26% | 1.25% | 2.68% |
| 2013 | 1.66% | 2.51% | 2.33% | 2.24% |
| 2012 | -0.74% | 2.23% | 0.49% | 2.61% |
| 2011 | -3.36% | -1.08% | -1.37% | -0.90% |
| 2010 | -2.16% | -0.25% | -2.06% | -1.01% |
| 2009 | -4.35% | -1.76% | -0.17% | -0.06% |
| 2008 | -4.06% | -5.31% | -2.84% | -0.28% |
| 2007 | -1.72% | -3.53% | -1.56% | -2.53% |
| 2006 | 0.38% | -1.99% | -0.39% | 1.28% |
| 2005 | 2.45% | 2.61% | 0.84% | 3.57% |
| 2004 | 1.76% | 2.05% | 2.78% | 3.13% |
| 2003 | 0.16% | 2.20% | 1.92% | 3.35% |
| 2002 | 0.72% | 2.01% | 1.81% | 2.33% |
| 2001 | 0.53% | 0.50% | 1.61% | 2.35% |
| 2000 | 0.55% | 1.53% | 1.26% | 2.27% |
| 1999 | 0.95% | 1.13% | 0.94% | 1.78% |
| 1998 | 0.98% | 1.08% | 1.20% | 1.41% |
| 1997 | -0.02% | 0.56% | 0.34% | 1.39% |
| 1996 | -0.86% | 0.04% | -0.10% | 0.06% |
| 1995 | -0.76% | -0.48% | 0.18% | 0.33% |
| 1994 | -0.28% | 0.17% | -0.31% | 0.27% |
| 1993 | -0.94% | -0.06% | 0.23% | 0.20% |
| 1992 | -0.72% | -0.57% | -0.90% | 0.15% |
| 1991 | -1.69% | -0.19% | -0.61% | -0.68% |
| 1990 | -0.85% | -2.63% | -1.68% |
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 |
| 2025 | -1.34% | 1.36% |
| 2024 | 1.07% | 3.99% |
| 2023 | 2.25% | 5.68% |
| 2022 | -0.76% | 5.64% |
| 2021 | 11.05% | 18.86% |
| 2020 | 8.06% | 9.53% |
| 2019 | 1.47% | 3.78% |
| 2018 | 2.60% | 4.55% |
| 2017 | 3.97% | 6.17% |
| 2016 | 3.06% | 5.20% |
| 2015 | 4.29% | 5.05% |
| 2014 | 3.59% | 4.38% |
| 2013 | 9.02% | 10.65% |
| 2012 | 4.63% | 6.46% |
| 2011 | -6.56% | -3.79% |
| 2010 | -5.38% | -3.97% |
| 2009 | -6.25% | -3.70% |
| 2008 | -11.97% | -11.88% |
| 2007 | -9.03% | -5.32% |
| 2006 | -0.74% | 1.79% |
| 2005 | 9.79% | 13.54% |
| 2004 | 10.08% | 13.66% |
| 2003 | 7.82% | 9.84% |
| 2002 | 7.04% | 9.59% |
| 2001 | 5.07% | 6.70% |
| 2000 | 5.73% | 9.31% |
| 1999 | 4.88% | 7.69% |
| 1998 | 4.76% | 6.45% |
| 1997 | 2.29% | 4.03% |
| 1996 | -0.86% | 2.42% |
| 1995 | -0.72% | 1.79% |
| 1994 | -0.16% | 2.52% |
| 1993 | -0.58% | 2.17% |
| 1992 | -2.03% | 0.80% |
| 1991 | -3.14% | -0.17% |
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.
