House prices

Every US metro area FHFA tracks, in real terms by default, ranked over one, five, ten and twenty-five years and through the crash.

as of 31 Oct 2026 · FHFA to 2026 Q2 · 410 metro areas (100 purchase-only) · 285 joined to metro pages · real terms in 2024 dollars

Refreshed 31 Oct

The country

FHFA purchase-only index for the United States, real and nominal, first quarter of 1991 = 100.

How this is measured
Real terms deflate each quarter by that year's US CPI and state the result in 2024 dollars; the CPI runs to 2024, so later quarters are shown at 2024 prices until the next annual print. The nominal line is the index as FHFA publishes it (not seasonally adjusted). The shaded band is the 2007 to 2012 window the crash boards measure.
real, 2024 dollarsnominalindex, first quarter = 100 · shaded: 2007 to 2012
0100200300400200020102020

One year
One year +2.1%
nominal
Ten years, real
Ten years, real +49.7%
real
Since 2000, real
Since 2000, real +78.3%
real
2007 to 2012, real
2007 to 2012, real −29.4%
2007Q2 to 2012Q1
East North Central Divisionten years real +55.8%
1y 4.4% · since 2000 41.8% · crash -28.1%
East South Central Divisionten years real +52.9%
1y 2.1% · since 2000 59% · crash -20.8%
Middle Atlantic Divisionten years real +52.9%
1y 3.9% · since 2000 94.7% · crash -23%
Mountain Divisionten years real +59.0%
1y 0.9% · since 2000 102.2% · crash -38.4%
New England Divisionten years real +59.3%
1y 3.7% · since 2000 96.2% · crash -25.2%
Pacific Divisionten years real +38.7%
1y 0% · since 2000 111% · crash -44.8%
South Atlantic Divisionten years real +57.3%
1y 1.6% · since 2000 92.2% · crash -35.1%
West North Central Divisionten years real +43.3%
1y 2.9% · since 2000 55.6% · crash -21%
West South Central Divisionten years real +34.4%
1y 0.8% · since 2000 68.8% · crash -12.7%

Where prices stand

Every FHFA metro area, sortable; pick real or nominal and the horizon.

How this is measured
FHFA publishes a purchase-only index (repeat sales of the same homes, no refinance appraisals) for the 100 largest metro areas and an all-transactions index for every metro; the board shows purchase-only where it exists and says "all-trans." where it does not. The eleven largest metros exist in FHFA's file only as their principal metropolitan division, marked "division" here: New York is New York-Jersey City-White Plains, not Long Island or Newark. 285 of the site's 596 US metros are joined to an FHFA area by principal city and state; the rest are smaller than FHFA's coverage or are folded into a neighbour here.

Real terms deflate each quarter by that year's US CPI, stated in 2024 dollars. The CPI runs to 2024; quarters after it are shown at 2024 prices until the next annual print, so the one-year figure is nominal for now.

Coeur d'Alene, IDIDall-trans.10 years change +100.4%
index 535.4 · crash -35.8%
Boise City, IDID10 years change +99.3%
index 745.5 · crash -50.2% · Boise
Homosassa Springs, FLFLall-trans.10 years change +95.8%
index 436.3 · crash -50.7% · Homosassa Springs
Idaho Falls, IDIDall-trans.10 years change +90.1%
index 445.3 · crash -23.5% · Idaho Falls
Pocatello, IDIDall-trans.10 years change +89.0%
index 433.3 · crash -17.8% · Pocatello
Knoxville, TNTN10 years change +87.4%
index 517.8 · crash -21.6% · Knoxville
Bozeman, MTMTall-trans.10 years change +87.0%
index 647.0 · crash -29.2% · Bozeman
Muskegon-Norton Shores, MIMIall-trans.10 years change +85.4%
index 388.3 · crash -31.0%
Sebring, FLFLall-trans.10 years change +84.8%
index 433.5 · crash -55.8% · Sebring
Miami-Miami Beach-Kendall, FLFLdivision10 years change +84.5%
index 806.1 · crash -53.5% · Miami
Hinesville, GAGAall-trans.10 years change +82.3%
index 333.5 · crash -26.9%
Tampa, FLFLdivision10 years change +82.3%
index 565.2 · crash -51.2% · Tampa

The boards

Ten metro areas each, from the same file, in real terms unless the title says otherwise.

Fastest over ten years

Real change since the same quarter of ten years ago.

  1. 1Coeur d'Alene, IDreal, 10 years +100.4%
  2. 2Boise City, IDreal, 10 years +99.3%
  3. 3Homosassa Springs, FLreal, 10 years +95.8%
  4. 4Idaho Falls, IDreal, 10 years +90.1%
  5. 5Pocatello, IDreal, 10 years +89.0%
  6. 6Knoxville, TNreal, 10 years +87.4%
  7. 7Bozeman, MTreal, 10 years +87.0%
  8. 8Muskegon-Norton Shores, MIreal, 10 years +85.4%
  9. 9Sebring, FLreal, 10 years +84.8%
  10. 10Miami-Miami Beach-Kendall, FLreal, 10 years +84.5%
Slowest over ten years

Real change, smallest first: where a house bought in the mid-2010s has gone nowhere.

  1. 1Houma-Bayou Cane-Thibodaux, LAreal, 10 years −2.9%
  2. 2Lake Charles, LAreal, 10 years +2.2%
  3. 3San Francisco-San Mateo-Redwood City, CAreal, 10 years +5.1%
  4. 4Lafayette, LAreal, 10 years +6.2%
  5. 5Monroe, LAreal, 10 years +6.4%
  6. 6San Rafael, CAreal, 10 years +7.7%
  7. 7New Orleans-Metairie, LAreal, 10 years +7.8%
  8. 8Minot, NDreal, 10 years +8.1%
  9. 9Shreveport-Bossier City, LAreal, 10 years +8.6%
  10. 10Enid, OKreal, 10 years +8.9%
Fastest since 2000

Real change from the first quarter of 2000.

  1. 1Miami-Miami Beach-Kendall, FLreal, since 2000 +207.6%
  2. 2West Palm Beach-Boca Raton-Delray Beach, FLreal, since 2000 +183.5%
  3. 3Bozeman, MTreal, since 2000 +183.0%
  4. 4Coeur d'Alene, IDreal, since 2000 +167.1%
  5. 5St. Petersburg-Clearwater-Largo, FLreal, since 2000 +165.0%
  6. 6Boise City, IDreal, since 2000 +160.0%
  7. 7Anaheim-Santa Ana-Irvine, CAreal, since 2000 +158.4%
  8. 8Fort Lauderdale-Pompano Beach-Sunrise, FLreal, since 2000 +154.9%
  9. 9Kahului-Wailuku, HIreal, since 2000 +154.4%
  10. 10Los Angeles-Long Beach-Glendale, CAreal, since 2000 +151.7%
Fastest over one year

Nominal change over the last four quarters (the CPI has not printed for this year yet).

  1. 1Muncie, INnominal, 1 year +13.9%
  2. 2Owensboro, KYnominal, 1 year +13.0%
  3. 3Anniston-Oxford, ALnominal, 1 year +12.0%
  4. 4Paducah, KY-ILnominal, 1 year +11.4%
  5. 5Lima, OHnominal, 1 year +11.1%
  6. 6Sumter, SCnominal, 1 year +11.1%
  7. 7Urban Honolulu, HInominal, 1 year +11.1%
  8. 8Charleston, WVnominal, 1 year +10.5%
  9. 9Lawton, OKnominal, 1 year +10.2%
  10. 10Beckley, WVnominal, 1 year +10.0%
The deepest crash, 2007 to 2012

Largest real peak-to-trough fall inside the window, most severe first.

  1. 1Merced, CAreal, peak to trough −66.0%
  2. 2Las Vegas-Henderson-North Las Vegas, NVreal, peak to trough −65.7%
  3. 3Modesto, CAreal, peak to trough −62.5%
  4. 4Stockton-Lodi, CAreal, peak to trough −59.8%
  5. 5Vallejo, CAreal, peak to trough −59.4%
  6. 6Cape Coral-Fort Myers, FLreal, peak to trough −59.1%
  7. 7Port St. Lucie, FLreal, peak to trough −58.0%
  8. 8Lakeland-Winter Haven, FLreal, peak to trough −57.9%
  9. 9Salinas, CAreal, peak to trough −57.6%
  10. 10Reno, NVreal, peak to trough −57.4%
The shallowest crash

Metro areas that barely fell, or did not fall at all, in real terms.

  1. 1Bismarck, NDreal, peak to trough −3.0%
  2. 2Minot, NDreal, peak to trough −3.1%
  3. 3Williamsport, PAreal, peak to trough −4.7%
  4. 4Dubuque, IAreal, peak to trough −5.0%
  5. 5Midland, TXreal, peak to trough −5.3%
  6. 6Shreveport-Bossier City, LAreal, peak to trough −5.6%
  7. 7Kennewick-Richland, WAreal, peak to trough −6.0%
  8. 8Lubbock, TXreal, peak to trough −6.3%
  9. 9Elmira, NYreal, peak to trough −6.4%
  10. 10Grand Forks, ND-MNreal, peak to trough −6.6%

Where these numbers come from

The Federal Housing Finance Agency's House Price Index, quarterly, from the all-series master file; purchase-only where published, all-transactions otherwise, not seasonally adjusted. Real terms use the World Bank's US consumer price index (FP.CPI.TOTL), annual. Growth is measured against the same quarter of the earlier year; the crash is the largest peak-to-trough fall between the first quarter of 2007 and the last of 2012. Case-Shiller's twenty cities are not yet on this page.