According to the U.S. Federal Housing Finance Agency’s (FHFA) seasonally adjusted monthly House Price Index (FHFA HPI), home prices in the U.S. increased by 0.4% in August. The price of homes increased by 2.3% between August 2024 and August 2025. The July price drop of 0.1% that had been previously reported was changed to 0.0%.
Seasonally adjusted monthly variations in housing prices for the nine census divisions varied from -0.8% in the Pacific division to +1.2% in the Middle Atlantic division. In the Pacific division, the 12-month changes were -0.6%, whereas in the Middle Atlantic division, they were +6.3%.
Top 10 Metro Area Rankings Per the FHFA HPI
- Rochester, NY (YoY change: 10.3%)
- Hartford-West Hartford-East Hartford, CT (9.4%)
- New York-Jersey City-White Plains, NY-NJ (7.9%)
- Lakewood-New Brunswick, NJ (7.7%)
- Buffalo-Cheektowaga, NY (7.5%)
- Elgin, IL (7.5%)
- Albany-Schenectady-Troy, NY (7.3%)
- Nassau County-Suffolk County, NY (7.1%)
- Columbia, SC (6.8%)
- Newark, NJ (6.5%)
More About the FHFA House Price Indices
The FHFA HPI is an extensive set of publicly accessible house price indices that track changes in the value of single-family homes using data from more than 400 American localities and all 50 states dating back to the mid-1970s.
In addition to providing information on changes in home prices at the national, census division, state, county, metro area, ZIP code, and census tract levels, it takes into account tens of millions of home transactions. FHFA analyzes data on home price transactions using a completely transparent methodology built on a weighted, repeat-sales statistical technique.
Note: FHFA releases HPI data and reports quarterly and monthly. The flagship FHFA HPI uses seasonally adjusted, purchase-only data from Fannie Mae and Freddie Mac.
Monthly data through September and quarterly data through Q3 of 2025 will be included in the upcoming HPI report, which will be published on November 25, 2025.
For more information, click here.
