Modesto, CA
House prices for this metro area, real and nominal, since FHFA's series begins.
FHFA all-transactions · 1977 Q2 to 2026 Q2 · real terms in 2024 dollars · built 2026-10-31
All metro areas · this area is modesto on the rankings
The index
Real and nominal, first quarter of the series = 100; the shaded band is 2007 to 2012.
How this is measured
Real terms deflate each quarter by that year's US CPI, stated in 2024 dollars; the CPI runs to 2024, so later quarters sit at 2024 prices until the next print. All-transactions includes refinance appraisals as well as sales; FHFA publishes purchase-only for the 100 largest metro areas only, and this is not one of them.
One year
One year real +2.8%
nominal +2.8%
Five years
Five years real +8.6%
nominal +25.8%
Ten years
Ten years real +44.4%
nominal +88.8%
Twenty-five years
Twenty-five years real +58.3%
nominal +180.5%
Since 2000
Since 2000 real +91.2%
nominal +248.2%
2007 to 2012
crash, real −62.5%
2007Q1 to 2012Q1
Year by year
Fourth quarter of each year, nominal and real, newest first.
| Quarter | Nominal | Real (2024 $) | Real, year on year |
|---|---|---|---|
| 2026 Q2 | 401.5 | 401.5 | real year on year +2.0% |
| 2025 Q4 | 393.8 | 393.8 | real year on year +1.3% |
| 2024 Q4 | 388.9 | 388.9 | real year on year +0.7% |
| 2023 Q4 | 375.1 | 386.2 | real year on year −0.4% |
| 2022 Q4 | 361.8 | 387.8 | real year on year −4.8% |
| 2021 Q4 | 352.0 | 407.5 | real year on year +16.0% |
| 2020 Q4 | 289.9 | 351.4 | real year on year +7.1% |
| 2019 Q4 | 267.4 | 328.1 | real year on year +2.0% |
| 2018 Q4 | 257.6 | 321.7 | real year on year +4.6% |
| 2017 Q4 | 240.5 | 307.7 | real year on year +6.3% |
| 2016 Q4 | 221.4 | 289.4 | real year on year +7.0% |
| 2015 Q4 | 204.4 | 270.5 | real year on year +7.7% |
| 2014 Q4 | 189.5 | 251.1 | real year on year +11.2% |
| 2013 Q4 | 167.7 | 225.8 | real year on year +26.8% |
| 2012 Q4 | 130.3 | 178.1 | real year on year +4.2% |
| 2011 Q4 | 122.6 | 171.0 | real year on year −11.3% |
| 2010 Q4 | 134.0 | 192.8 | real year on year −6.0% |
| 2009 Q4 | 140.3 | 205.1 | real year on year −8.8% |
| 2008 Q4 | 154.3 | 224.8 | real year on year −39.2% |
| 2007 Q4 | 244.6 | 370.0 | real year on year −21.8% |
| 2006 Q4 | 304.2 | 473.3 | real year on year −3.6% |
| 2005 Q4 | 305.8 | 491.2 | real year on year +22.5% |
| 2004 Q4 | 241.4 | 400.9 | real year on year +20.4% |
| 2003 Q4 | 195.2 | 332.9 | real year on year +12.2% |
| 2002 Q4 | 170.2 | 296.7 | real year on year +11.1% |
| 2001 Q4 | 150.8 | 267.2 | real year on year +14.7% |
| 2000 Q4 | 127.9 | 233.0 | real year on year +10.4% |
| 1999 Q4 | 112.1 | 211.1 | real year on year +1.7% |
| 1998 Q4 | 107.9 | 207.6 | real year on year +4.1% |
| 1997 Q4 | 102.0 | 199.3 | real year on year −1.0% |
| 1996 Q4 | 100.7 | 201.3 | real year on year −4.2% |
| 1995 Q4 | 102.1 | 210.1 | real year on year −1.0% |
| 1994 Q4 | 100.3 | 212.2 | real year on year −9.7% |
| 1993 Q4 | 108.2 | 234.9 | real year on year −4.6% |
| 1992 Q4 | 110.1 | 246.1 | real year on year −4.2% |
| 1991 Q4 | 111.6 | 257.0 | real year on year −5.7% |
| 1990 Q4 | 113.5 | 272.4 | real year on year +2.6% |
| 1989 Q4 | 104.9 | 265.4 | real year on year +18.2% |
| 1988 Q4 | 84.7 | 224.5 | real year on year +6.6% |
| 1987 Q4 | 76.3 | 210.7 | real year on year +4.9% |
| 1986 Q4 | 70.2 | 200.8 | real year on year +6.2% |
| 1985 Q4 | 64.8 | 189.0 | real year on year +1.7% |
| 1984 Q4 | 61.5 | 185.8 | real year on year −1.9% |
| 1983 Q4 | 60.2 | 189.5 | real year on year −11.7% |
| 1982 Q4 | 66.0 | 214.5 | real year on year −3.0% |
| 1981 Q4 | 64.1 | 221.3 | real year on year −6.4% |
| 1980 Q4 | 62.1 | 236.3 | real year on year +1.7% |
| 1979 Q4 | 53.8 | 232.3 | real year on year +6.4% |
| 1978 Q4 | 45.4 | 218.4 | real year on year +2.4% |
| 1977 Q4 | 41.2 | 213.2 | — |
2026 Q2402 · real 402real year on year +2.0%
2025 Q4394 · real 394real year on year +1.3%
2024 Q4389 · real 389real year on year +0.7%
2023 Q4375 · real 386real year on year −0.4%
2022 Q4362 · real 388real year on year −4.8%
2021 Q4352 · real 408real year on year +16.0%
2020 Q4290 · real 351real year on year +7.1%
2019 Q4267 · real 328real year on year +2.0%
2018 Q4258 · real 322real year on year +4.6%
2017 Q4240 · real 308real year on year +6.3%
2016 Q4221 · real 289real year on year +7.0%
2015 Q4204 · real 270real year on year +7.7%
Source
FHFA House Price Index, all-transactions, quarterly, not seasonally adjusted, CBSA 33700. Real terms by the World Bank's US consumer price index, annual.