Home prices are up nationwide in May, according to the latest Federal Housing Finance Agency House Price Index (FHFA HPI®). Prices increased by 1.7% since last month and were up 18.0% from May 2020 to May 2021. The previously reported 1.8% price change for April 2021 was unrevised.
For the nine census divisions, seasonally adjusted monthly house price changes from April 2021 to May 2021 ranged from:
– +1.0% in the Middle Atlantic division
– +2.4% in the Pacific division
– 15.4% in the West South-Central division
– +23.2% in the Mountain division
“House prices continued their record-setting growth into May,” said Dr. Lynn Fisher, FHFA’s deputy director of the Division of Research and Statistics. “This trend will likely continue around the country as busy summer home-buying months maintain the pressure being felt in already tight housing markets.”