The Federal Housing Finance Agency (FHFA) publishes a quarterly report called the House Price Index Quarterly Report. This report provides data for housing appreciation on a state by state and city-by-city basis. The report presents hard data and goes beyond the anecdotal information reported in the media. The highlights of this report for the first quarter of 2025 are:
- U.S. home prices rose 4% between the first quarter of 2024 and the first quarter of 2025. Home prices for the first quarter of 2025 rose by 0.7% compared to the fourth quarter of 2024.
- Nationally the U.S housing market has experienced positive appreciation each quarter since 2012.
Housing prices increased in 49 states from the first quarter of 2024 through the first quarter of 2025, with the following states showing the highest annual appreciation (Rhode Island 11.4%, West Virginia 9.3%, Connecticut 9%, Ohio 7.6% and Wyoming 8.25%).
The following chart shows the appreciation by state over the past four year through March 31, 2025:
The Housing Price Index provides price appreciation data for the past quarter, the past year and the past five-year period. The report also reports appreciation data from the first quarter of 1991 through the first quarter of 2025.
In the last 5 years the states with the highest appreciation are:
- Maine 79.92%
- Rhode Island 74.18%
- Connecticut 71.48%
- New Hampshire 71.47%
- North Carolina 69.8%
The states with the highest appreciation since 1991 are:
- Utah 629%
- Montana 626%
- Colorado 597%
- Idaho 540%
- Oregon 534%
For Colorado, price appreciation was 1.93% for the past four quarters. For the past five years appreciation in Colorado was 43.16%. Since 1991 the appreciation in Colorado has been 597.47%, which is the third highest of any state in the country.
For the Denver Metro area, appreciation for the past year was 1.69%, for the past 5 years was 40.13%. Since 1991 the appreciation in the Denver Metro area has been 640%, which is the second highest among the largest 100 metropolitan areas in the country. Overall, housing prices rose in 89 of the largest 100 metropolitan areas over the past year.
There is a wealth of information in the report. For the full report CLICK HERE
