Fannie Mae announced the publication of the Fannie Mae Home Price Index (FNM-HPI), a national, repeat-transaction home-price index measuring the average, quarterly price change for all single-family properties in the United States, excluding condos.
The FNM-HPI accelerated in first quarter 2022 to its fastest annual pace in the 47-year history of the index, measuring 20 percent year-over-year, non-seasonally adjusted, up from the 19.1 percent annual rate recorded in fourth quarter 2021. On a quarterly basis, home prices rose a seasonally adjusted 4.8 percent in first quarter 2022.
“After decelerating toward the end of 2021, the FNM-HPI sped up in the first quarter due to continued strong homebuying demand and a lack of inventory,” said Doug Duncan,
