House Price Index Monthly Report

FHFA News Releases

Published March 31st, 2026

Detected April 6th, 2026

Summary

The Federal Housing Finance Agency released January 2026 House Price Index data showing a 0.1 percent monthly increase and a 1.6 percent year-over-year increase in U.S. house prices. Monthly price changes across nine census divisions ranged from -0.7 percent in the West South Central division to +1.7 percent in the East South Central division. FHFA announced that beginning May 26, 2026, it will expand the HPI methodology to cover over 400 metropolitan areas, up from the current 50.

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What changed

FHFA published its monthly House Price Index for January 2026, reporting a 0.1 percent month-over-month increase in U.S. house prices and a 1.6 percent increase from January 2025. The previously reported 0.1 percent change for December was revised upward to 0.3 percent. Price changes varied by census division, with annual changes ranging from -0.8 percent to +4.4 percent.

This is an informational release with no compliance obligations or deadlines. Banks, mortgage lenders, investors, and financial advisers may use the HPI data for market analysis and valuation purposes. Data users should note that FHFA will introduce an Expanded-Data HPI methodology on May 26, 2026, broadening coverage from 50 to over 400 metropolitan areas.

Source document (simplified)

News Release

FHFA House Price Index® Up 0.1 Percent in January; Up 1.6 Percent from Last Year

for immediate release 03/31/2026 Washington, D.C. – U.S. house prices rose 0.1 percent in January, according to the U.S. Federal Housing (FHFA) seasonally adjusted monthly House Price Index (FHFA HPI®). House prices rose 1.6 percent from January 2025 to January 2026. The previously reported 0.1 percent price change in December was revised upward to 0.3 percent.

For the nine census divisions, seasonally adjusted monthly home price changes ranged from -0.7 percent in the West South Central division to +1.7 percent in the East South Central division. The 12-month changes ranged from -0.8 percent in the West South Central division to +4.4 percent in the East North Central division.

The FHFA HPI is a comprehensive collection of publicly available house price indexes that measure changes in single-family home values based on data that extend back to the mid-1970s from all 50 states and over 400 American cities. It incorporates tens of millions of home sales and offers insights about house price changes at the national, census division, state, metro area, county, ZIP code, and census tract levels. FHFA uses a fully transparent methodology based upon a weighted, repeat-sales statistical technique to analyze house price transaction data.

FHFA releases HPI data and reports quarterly and monthly. The flagship FHFA HPI uses seasonally adjusted, purchase-only data from Fannie Mae and Freddie Mac. Additional indexes use other data, including refinances, mortgages insured by the Federal Housing Administration, and real property records. All the indexes (including their historic values) and information about future HPI release dates are available on FHFA’s website: https://www.fhfa.gov/HPI.

The next HPI report will be released on April 28, 2026, and will include monthly data through February.
Starting on May 26, 2026, FHFA will introduce the broadened Expanded-Data HPI to increase its coverage from 50 metropolitan areas to over 400 areas. Details are in the report’s Technical Note, and the supplemental dataset can be downloaded here: https://www.fhfa.gov/data/hpi/datasets?tab=additional-data ###

The Federal Housing Finance Agency regulates Fannie Mae, Freddie Mac, and the 11 Federal Home Loan Banks. These government-sponsored enterprises provide more than $8.5 trillion in funding for the U.S. mortgage markets and financial institutions. Additional information is available at www.FHFA.gov, on X @FHFA, YouTube, Facebook, and LinkedIn.

Contacts: MediaInquiries@FHFA.gov