The Federal Housing Finance Agency’s (FHFA) House Price Index (HPI) showed an increase in January 2021 compared with the previous month, as well as year-over-year. House prices were up 1 percent in January, compared with December 2020, and 12 percent from January 2020 to January 2021.
“While house prices experienced historic growth rates in 2020 and into the new year, the monthly gains appear to be moderating,” Lynn Fisher, FHFA deputy director of the division of research and statistics, said in a release. “House prices increased by 1 percent in January, which is relatively still high, but represents the smallest month-over-month gain since June 2020.”
In the nine census divisions, seasonally adjusted monthly house price changes from December 2020 to January 2021 ranged from -0.2 percent in the East South Central division to +1.5 percent in the Mountain division. Changes over 12 months ranged from +10.2 percent in the West South Central division to +14.8 percent in the Mountain division.
The next HPI report will be April 27, 2021 and will contain data through February 2021.