U.S. house prices were up 0.1% in January, according to a new report from the U.S. Federal Housing (FHFA) seasonally adjusted monthly House Price Index (FHFA HPI).
House prices were up 1.6% from January 2025 to January 2026, the report noted.
However, the previously reported 0.1% price change in December was revised upward to 0.3 percent, FHFA noted.
The report stated that for the nine census divisions, seasonally adjusted monthly home price changes ranged from -0.7% in the West South Central division to +1.7% in the East South Central division.
The 12-month changes ranged from -0.8% in the West South Central division to +4.4% in the East North Central division, according to FHFA.
The agency reported in January that house prices in the U.S. increased by 0.6% in November. From November 2024 to November 2025, there was a 1.9% increase in house prices.
In the nine census divisions, home price changes on a monthly basis (seasonally adjusted) varied from 0% in the Middle Atlantic division to +1.1% in the East South Central division. Changes over the 12-month period varied from -0.4% in the Pacific division to +5.1% in the East North Central division.
Millions of Home Sales
The FHFA HPI is a comprehensive collection of publicly available house price indexes that measure changes in single-family home values based on data that extend back to the mid-1970s from all 50 states and more than 400 American cities.
The report incorporates tens of millions of home sales and offers insights about house price changes at the national, census division, state, metro area, county, ZIP code, and census tract levels.
FHFA said it uses a fully transparent methodology based upon a weighted, repeat-sales statistical technique to analyze house price transaction data.
FHFA releases HPI data and reports quarterly and monthly. Its flagship FHFA HPI uses seasonally adjusted, purchase-only data from Fannie Mae and Freddie Mac.
The agency’s additional indexes use other data, including refinances, mortgages insured by the FHFA and real property records.
FHFA said the next HPI report will be released on April 28, and will include monthly data through February. The agency also said that starting on May 26, it will introduce the broadened Expanded-Data HPI to increase its coverage from 50 metropolitan areas to more than 400 areas.
The Federal Housing Finance Agency regulates Fannie Mae, Freddie Mac, and the 11 Federal Home Loan Banks.
