According to the latest Federal Housing Finance Agency’s (FHFA) House Price Index (HPI), home prices home prices were unchanged in May, 2024.  However, prices rose 5.7% from May 2023 to May 2024.  The FHFA HPI is the nation’s only collection of public, freely available house price indexes that measure changes in single-family home values based on data from all 50 states and over 400 American cities that extend back to the mid-1970s.

“U.S. house price movement was flat in May…The slowdown in U.S. house price appreciation continued in May amid a slight rise in both mortgage rates and housing inventory.”  Said Dr. Anju Vajja, Deputy Director for FHFA’s Division of Research and Statistics.