FHFA House Price Index Down 0.1% in March

The Federal Housing Finance Agency (FHFA) house price index (HPI) fell to 436.6 in March, the first monthly decline since August 2022. U.S. house prices were down 0.1% from the previous month, lower than the expected 0.1% growth, and up 4.6% from one year ago. However, after adjusting for inflation, the real index was lower at 201.0. Real house prices were up 0.2% month-over-month and up 2.2% year-over-year.

FHFA House Price Index

The FHFA House Price Index is a measure of the change in prices of single-family homes, using data from Fannie Mae and Freddie Mac. It helps to analyze the strength of the US housing market by watching the rise and fall of prices. As prices increase so does consumer confidence. Conversely, as prices decrease, consumer confidence declines as well.