FHFA House Price Index

FHFA House Price IndexThe FHFA House Price Index (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. The FHFA HPI incorporates tens of millions of home sales and offers insights about house price fluctuations 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.<br>What does the FHFA HPI represent?The FHFA HPI is a broad measure of the movement of single-family house prices. The FHFA HPI is a weighted, repeat-sales index, meaning that it measures average price changes in repeat sales or refinancings on the same properties. This information is obtained by reviewing repeat mortgage transactions on single-family properties whose mortgages have been purchased or securitized by Fannie Mae or Freddie Mac since January 1975.<br>The FHFA HPI serves as a timely, accurate indicator of house price trends at various geographic levels. Because of the breadth of the sample, it provides more information than is available in other house price indexes. It also provides housing economists with an improved analytical tool that is useful for estimating changes in the rates of mortgage defaults, prepayments and housing affordability in specific geographic areas.<br><br>***For FHFA Annual House Price Index<br>Microdata: Yes<br>Level of Analysis: Local - CBSA, zip, tract; State; Nation<br>Variables Present: Yes<br>File Layout: .xlsx<br>Codebook: Yes<br>Methods: Yes<br>Weights (with appropriate documentation): Yes<br>Publications: No<br>Aggregate Data: No<br><br>***For FHFA Metro House Price Index<br>Microdata: Yes<br>Level of Analysis: Local - Metro Region<br>Variables Present: Yes<br>File Layout: .xlsx<br>Codebook: Yes<br>Methods: Yes<br>Weights (with appropriate documentation): No<br>Publications: No<br>Aggregate Data: No<br><br>***For FHFA Monthly House Price Index<br>Microdata: Yes<br>Level of Analysis: Region<br>Variables Present: Yes<br>File Layout: .xls<br>Codebook: Yes<br>Methods: Yes<br>Weights (with appropriate documentation): No<br>Publications: No<br>Aggregate Data: Yes<br><br>***FHFA Quartlerly House Price Index<br>Microdata: Yes<br>Level of Analysis: Local - CBSA, zip, tract, metro, nonmetro; state; nation<br>Variables Present: Yes<br>File Layout: .xlsx<br>Codebook: Yes<br>Methods: Yes<br>Weights (with appropriate documentation): yes<br>Publications: No<br>Aggregate Data: No

联邦住房金融署房价指数（FHFA House Price Index, FHFA HPI®）是一套全面的公开可用房价指数集合，基于可追溯至20世纪70年代中期的全美50个州及逾400座美国城市的相关数据，用以测算单户住宅价值的变动幅度。该指数纳入了数千万宗住宅销售交易数据，可提供全国、人口普查分区、州、大都市区、县、邮政编码区以及人口普查街区层面的房价波动洞察。联邦住房金融署（FHFA）采用完全透明的方法论，基于加权重复销售统计技术对住宅价格交易数据进行分析。
FHFA HPI代表什么？
FHFA HPI是衡量单户住宅价格走势的综合性指标。该指数属于加权重复销售指数，即其测算的是同一房产在重复销售或再融资场景下的平均价格变动。此类信息源自对1975年1月以来由房利美（Fannie Mae）或房地美（Freddie Mac）收购或证券化的单户住宅房产的重复抵押贷款交易的审查。
FHFA HPI可作为及时、精准的多地理层级房价趋势指标。得益于样本覆盖范围的广度，该指数能提供其他房价指数所不具备的更丰富信息。同时，它还为住房经济学家提供了更为完善的分析工具，可用于估算特定地理区域内的抵押贷款违约率、提前还款率以及住房负担能力的变化情况。