FHFA House Price Index
Purchase-only alt to Case-Shiller. When CS and FHFA disagree, something odd is happening.
- source
- FRED
- frequency
- quarterly
- units
- index
- s.a.
- no
Note: Based on Fannie/Freddie conforming loans only.
FHFA prints 719.87, up 3% from a year ago — purchase prices are still climbing, but the pace has cooled noticeably from the 2024 trough. The index gained 8 points last quarter alone, which is consistent with the steady grinding-higher pattern of the past year; the real signal is that YoY growth has flatlined around 3% when it was running closer to 5% in mid-2024. If you're underwriting acquisition deals in conforming-loan territory, this is the refinement call: appreciation is still there, but the tailwind is lighter than it was twelve months ago. Watch the next two quarters for inflection; a sub-2% print would be your signal that purchase prices have actually rolled over.
"""
FHFA House Price Index — Purchase-only alt to Case-Shiller. When CS and FHFA disagree, something odd is happening.
Freq: quarterly · Source: FRED
"""
from fredapi import Fred
fred = Fred(api_key="YOUR_FRED_API_KEY")
series = fred.get_series("USSTHPI")
print(series.tail())You are analyzing FRED series USSTHPI — All-Transactions House Price Index for the United States. Context: Purchase-only alt to Case-Shiller. When CS and FHFA disagree, something odd is happening. Attributes - Units: index - Frequency: quarterly - Source: FRED Latest observation: 719.87 as of 2026-04-01 Year-over-year change: +3.03% Analyze this metric for a tech-forward real estate investor with 1–3 properties. What is it signaling right now? What should I watch next?