Purchase Only House Price Index for the United States
Index Jan 1991=100, Monthly, Not Seasonally Adjusted
HPIPONM226N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
444.47
Year-over-Year Change
2.84%
Date Range
1/1/1991 - 5/1/2025
Summary
The Housing Price Index (HPI) is a broad measure of the movement of single-family house prices. It is a key indicator for analyzing the U.S. housing market and economy.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The HPI tracks changes in the sale prices of single-family homes over time, providing insights into national and regional housing price trends. It is a widely referenced metric for monitoring the health of the real estate sector.
Methodology
The HPI is calculated by the Federal Housing Finance Agency using sales price information for mortgages sold to or guaranteed by Fannie Mae and Freddie Mac.
Historical Context
The HPI is used by policymakers, researchers, and market participants to assess housing affordability and the overall state of the real estate market.
Key Facts
- The HPI uses January 1991 as its base year, with a value of 100.
- The index is released monthly and is not seasonally adjusted.
- Housing prices have increased significantly since the 1990s, reflecting rising demand and limited supply.
FAQs
Q: What does this economic trend measure?
A: The Housing Price Index (HPI) measures the average change in sale prices of single-family homes in the United States over time.
Q: Why is this trend relevant for users or analysts?
A: The HPI is a crucial indicator for monitoring the health of the U.S. housing market and economy, as housing prices have a significant impact on consumer wealth, spending, and overall economic activity.
Q: How is this data collected or calculated?
A: The HPI is calculated by the Federal Housing Finance Agency using sales price information for mortgages sold to or guaranteed by Fannie Mae and Freddie Mac.
Q: How is this trend used in economic policy?
A: Policymakers, researchers, and market participants use the HPI to assess housing affordability, monitor real estate market conditions, and inform decisions related to economic and housing policy.
Q: Are there update delays or limitations?
A: The HPI is released monthly, with a short delay, and is not seasonally adjusted, which should be considered when interpreting the data.
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Citation
U.S. Federal Reserve, Housing Price Index (HPIPONM226N), retrieved from FRED.