FHFA Index Improves in 2Q2026

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 After five consecutive quarters of deceleration in home price appreciation, today’s  release of the FHFA House Price Index (HPI) report for 2Q2026 reflects a modest improvement. The national Purchase-Only FHFA HPI (SA, nominal) increased 2.13% y/y in the quarter compared to 1.88% in 1Q2026 and 2.03% in 4Q2025. Nevertheless, this is a far cry from the index’s most  recent peak y/y growth rate of 6.42% in 1Q2024 and its historic peak of 18.17% in 3Q2021. The states with the strongest y/y growth in house prices were diverse, with Alaska, Vermont, Hawaii, Illinois and West Virginia comprising the top five states. Four states posted y/y declines in their respective HPI indexes led by New Mexico, followed by Washington, Colorado and California. The below exhibit is from the FHFA release.


Source: FHFA

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