Home Value Tracker: What's happening with home prices?

Keith Gumbinger

Wondering what's happening with home values in your market? HSH's Home Value Tracker can help you find out. HVT will show you what's happening with home values over the last quarter, last year and over the last few years. Plus, you can use the MyHVT tool to see what's happened to your home's value over the time you've owned it!

Covering over 400 of the nation's housing markets, HSH.com’s Home Value Tracker uses one of the Federal Housing Finance Agency's (FHFA) Home Price Indexes to calculate home price changes in each of these areas over a range of fixed time periods.

Below, we show:

We show home price changes over a range of fixed time periods. You can do your own custom time period calculation for a market by selecting the Tracking Tool link, which will allow you to see changes in home values for any period in the last 25 years and help you reckon what your house is worth today. Learn more about the FHFA data we use in our calculations.

On a year-over-year basis, here are the top 10 metropolitan areas that recorded the fastest rates of home price appreciation:

10 metro areas with the largest home price changes -- Fourth Quarter 2021

Metro Area Last quarter 2 qtrs ago 1 year ago 3 yrs ago 5 yrs ago Custom Period See Mortgage Rates
Twin Falls, ID 5.09% 15.01% 33.94% 62.83% 95.19% Tracking Tool Shop refinance rates for Twin Falls, ID
St. George, UT 5.13% 13.45% 33.36% 55.21% 81.81% Tracking Tool Shop refinance rates for St. George, UT
Austin-Round Rock-Georgetown, TX 3.12% 13.72% 32.31% 54.48% 73.38% Tracking Tool Shop refinance rates for Austin-Round Rock-Georgetown, TX
Punta Gorda, FL 7.66% 17.20% 31.43% 47.69% 68.27% Tracking Tool Shop refinance rates for Punta Gorda, FL
Boise City, ID 2.08% 10.45% 31.29% 67.42% 117.06% Tracking Tool Shop refinance rates for Boise City, ID
Naples-Marco Island, FL 7.09% 17.11% 31.14% 45.26% 57.49% Tracking Tool Shop refinance rates for Naples-Marco Island, FL
Coeur d'Alene, ID 3.07% 9.64% 30.72% 64.25% 105.98% Tracking Tool Shop refinance rates for Coeur d'Alene, ID
Idaho Falls, ID 3.04% 12.35% 30.14% 64.15% 101.41% Tracking Tool Shop refinance rates for Idaho Falls, ID
Cape Coral-Fort Myers, FL 6.85% 16.38% 30.12% 45.06% 61.31% Tracking Tool Shop refinance rates for Cape Coral-Fort Myers, FL
Bend, OR 3.77% 12.84% 29.98% 49.58% 74.22% Tracking Tool Shop refinance rates for Bend, OR

See home price changes in your local market


See home price changes in your local market -- Fourth Quarter 2021

First select state, then choose the metro closest to you

Metro Area Last quarter 2 qtrs ago 1 year ago 3 yrs ago 5 yrs ago Custom Period See Mortgage Rates
My Metro % % % % % - -

On a year-over-year basis, here are the top 10 metropolitan areas that recorded the slowest rates of home price appreciation:

10 metro areas with the smallest home price changes -- Fourth Quarter 2021

Metro Area Last quarter 2 qtrs ago 1 year ago 3 yrs ago 5 yrs ago Custom Period See Mortgage Rates
Odessa, TX 2.62% 5.58% 3.91% 15.47% 33.36% Tracking Tool Shop refinance rates for Odessa, TX
San Francisco-San Mateo-Redwood City, CA 3.76% 4.33% 5.73% 0.66% 13.06% Tracking Tool Shop refinance rates for San Francisco-San Mateo-Redwood City, CA
Houma-Thibodaux, LA 1.42% 5.05% 6.64% 13.51% 13.59% Tracking Tool Shop refinance rates for Houma-Thibodaux, LA
Midland, TX 2.48% 3.68% 6.65% 14.05% 33.79% Tracking Tool Shop refinance rates for Midland, TX
Waterloo-Cedar Falls, IA 0.08% 3.35% 7.68% 13.75% 18.68% Tracking Tool Shop refinance rates for Waterloo-Cedar Falls, IA
Pine Bluff, AR 0.88% 4.10% 8.00% 17.06% 28.02% Tracking Tool Shop refinance rates for Pine Bluff, AR
Lafayette, LA 1.52% 6.05% 8.47% 15.87% 16.45% Tracking Tool Shop refinance rates for Lafayette, LA
Shreveport-Bossier City, LA 1.91% 5.13% 8.52% 16.29% 14.90% Tracking Tool Shop refinance rates for Shreveport-Bossier City, LA
Elmira, NY 0.25% 5.88% 8.73% 19.42% 23.52% Tracking Tool Shop refinance rates for Elmira, NY
Manhattan, KS 0.53% 5.65% 8.86% 18.04% 19.08% Tracking Tool Shop refinance rates for Manhattan, KS

More about HVT and our methodology

HSH's HVT uses a Federal Housing Finance Home Price Index as its basis. HPI are broad measures of the movement of single-family house prices. They have been published by the FHFA and precursor agencies since the fourth quarter of 1995.

The base HVT data is a weighted, repeat-sales index; it measures average price changes in repeat sales or refinances of the same properties.

HVT is based on an "all transactions" index involving conforming, conventional mortgages purchased or securitized by Fannie Mae or Freddie Mac. Only mortgage transactions on single-family properties are included; this includes both purchases and refinances. Because refinancing depends on market conditions and does not occur with any regularity, the data is not seasonally-adjusted and so may be subject to wider swings than a smoothed-out, seasonally-adjusted indicator. As well, the HVT does not include property transactions backed by FHA, VA, USDA or private-market non-conforming (i.e. jumbo) mortgages.

This means that changes in values in some high-cost markets where jumbo mortgages dominate (such as the San Francisco-San Mateo-Redwood City and San Jose-Sunnyvale-Santa Clara, CA metro areas) may not be as well represented as other areas, even with a conforming loan limit of $822,375 in 2021 (and $970,800 in 2022). Although refinancing transactions are likely captured in the data, many home purchases may not be.

For each market, the index uses 1995 home prices as a basis. Those dollars are "normalized" to a value of 100 for each market; that is, regardless of the actual dollar cost, the index value for a given market becomes 100. For example, a home price in Allentown, PA in 1995 might have been $65,000; this becomes a base value for Allentown of 100, and changes since then are presented as percentage changes from that initial 100 value.

The HVT base data is updated each quarter as additional mortgages are purchased or securitized by Fannie Mae and Freddie Mac, and shows the relative change in prices in a metropolitan area from quarter to quarter or time period to time period.

The FHFA uses the revised Metropolitan Statistical Areas (MSAs) and Divisions as defined by the Office of Management and Budget (OMB) in Bulletin 20-01. If specified criteria are met and an MSA contains a single core population greater than 2.5 million, the MSA is divided into Metropolitan Divisions.

For more details on the HPI and how it is put together, see
http://www.fhfa.gov/Media/PublicAffairs/Pages/Housing-Price-Index-Frequently-Asked-Questions.aspx

Rising home values and paying down your mortgage mean a growing equity stake. To reckon how much home equity you have today, or to plan for a specific future home equity goal, use HSH's KnowEquitysm Home Equity Calculator and Projector.

Add to Homescreen?
X
X
Install this web app on your phone :tap and then Add to homescreen