San Jose-Sunnyvale-Santa Clara, CA
House prices for this FHFA metro area, real and nominal, since the series begins.
FHFA purchase-only · 1991 Q1 to 2026 Q2 · real terms in 2024 dollars · built 2026-10-31
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. Purchase-only means repeat sales of the same homes with refinance appraisals excluded, the cleaner of FHFA's two indices, published for the 100 largest metro areas.
One year
One year real −2.0%
nominal -2.0%
Five years
Five years real −3.8%
nominal +11.3%
Ten years
Ten years real +20.4%
nominal +57.4%
Twenty-five years
Twenty-five years real +58.3%
nominal +180.4%
Since 2000
Since 2000 real +85.5%
nominal +237.9%
2007 to 2012
crash, real −35.4%
2007Q2 to 2009Q1
Year by year
Fourth quarter of each year, nominal and real, newest first.
| Quarter | Nominal | Real (2024 $) | Real, year on year |
|---|---|---|---|
| 2026 Q2 | 552.3 | 552.3 | real year on year −5.4% |
| 2025 Q4 | 583.9 | 583.9 | real year on year +5.0% |
| 2024 Q4 | 556.0 | 556.0 | real year on year −0.2% |
| 2023 Q4 | 541.3 | 557.2 | real year on year +3.2% |
| 2022 Q4 | 503.8 | 540.0 | real year on year −10.3% |
| 2021 Q4 | 519.9 | 601.9 | real year on year +10.1% |
| 2020 Q4 | 451.1 | 546.8 | real year on year +9.4% |
| 2019 Q4 | 407.4 | 499.8 | real year on year +1.4% |
| 2018 Q4 | 394.6 | 492.9 | real year on year +2.6% |
| 2017 Q4 | 375.3 | 480.2 | real year on year +9.5% |
| 2016 Q4 | 335.6 | 438.7 | real year on year +2.4% |
| 2015 Q4 | 323.8 | 428.6 | real year on year +10.4% |
| 2014 Q4 | 293.0 | 388.3 | real year on year +7.4% |
| 2013 Q4 | 268.5 | 361.6 | real year on year +13.1% |
| 2012 Q4 | 234.0 | 319.7 | real year on year +11.4% |
| 2011 Q4 | 205.8 | 287.0 | real year on year −2.0% |
| 2010 Q4 | 203.6 | 292.9 | real year on year −6.6% |
| 2009 Q4 | 214.6 | 313.7 | real year on year +3.1% |
| 2008 Q4 | 208.8 | 304.2 | real year on year −27.1% |
| 2007 Q4 | 275.9 | 417.4 | real year on year −1.4% |
| 2006 Q4 | 272.1 | 423.4 | real year on year −2.4% |
| 2005 Q4 | 270.1 | 433.9 | real year on year +7.9% |
| 2004 Q4 | 242.1 | 402.1 | real year on year +10.3% |
| 2003 Q4 | 213.9 | 364.7 | real year on year +0.6% |
| 2002 Q4 | 207.9 | 362.6 | real year on year +7.0% |
| 2001 Q4 | 191.2 | 338.8 | real year on year −4.6% |
| 2000 Q4 | 195.0 | 355.1 | real year on year +26.4% |
| 1999 Q4 | 149.2 | 280.9 | real year on year +12.3% |
| 1998 Q4 | 130.0 | 250.2 | real year on year +12.3% |
| 1997 Q4 | 114.0 | 222.8 | real year on year +10.9% |
| 1996 Q4 | 100.5 | 201.0 | real year on year +3.3% |
| 1995 Q4 | 94.5 | 194.5 | real year on year +0.1% |
| 1994 Q4 | 91.8 | 194.3 | real year on year −3.7% |
| 1993 Q4 | 92.9 | 201.7 | real year on year −6.0% |
| 1992 Q4 | 96.0 | 214.7 | real year on year −4.7% |
| 1991 Q4 | 97.8 | 225.3 | — |
2026 Q2552 · real 552real year on year −5.4%
2025 Q4584 · real 584real year on year +5.0%
2024 Q4556 · real 556real year on year −0.2%
2023 Q4541 · real 557real year on year +3.2%
2022 Q4504 · real 540real year on year −10.3%
2021 Q4520 · real 602real year on year +10.1%
2020 Q4451 · real 547real year on year +9.4%
2019 Q4407 · real 500real year on year +1.4%
2018 Q4395 · real 493real year on year +2.6%
2017 Q4375 · real 480real year on year +9.5%
2016 Q4336 · real 439real year on year +2.4%
2015 Q4324 · real 429real year on year +10.4%
Source
FHFA House Price Index, purchase-only, quarterly, not seasonally adjusted, CBSA 41940. Real terms by the World Bank's US consumer price index, annual.