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WASHINGTON – U.S. housing prices fell slightly in January from the month prior, marking the first decline since August 2022, according to the Federal Housing Finance Agency House Price Index (FHFA HPI), which tracks all U.S. mortgages under government-sponsored enterprises, notably Fannie Mae and Freddie Mac.
Nationwide, housing prices were down .1% from December, the FHFA HPI found. Home prices nationwide rose 6.3% from January 2023 to January 2024.
The South Atlantic Division (Florida, Delaware, District of Columbia, Georgia, Maryland, North Carolina, South Carolina, Virginia and West Virginia) saw a .6% decline in seasonally adjusted monthly prices from December 2023 to January 2024. Overall, however, the area saw a 6.1% housing price increase from January 2023 to January 2024.
For the other eight census divisions, seasonally adjusted monthly price changes from December 2023 to January 2024 ranged from a .6% decline in the New England Division (Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island and Vermont) to a 1.5% increase in the North West Central Division (Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota and South Dakota).
The FHFA HPI is a comprehensive collection of publicly available house price indexes that measure changes in single-family home values based on data beginning from the mid-1970s from all 50 states and over 400 American cities.
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