The Federal Housing Finance Agency’s (FHFA) seasonally adjusted monthly House Price Index (HPI) reported house prices fell 0.4 percent from March to April but rose 3 percent from April 2024 to April 2025. The previously reported 0.1 percent price decline in March was revised upward to 0 percent.

For the nine census divisions, home price changes ranged from -1.3 percent in the South Central and South Atlantic divisions to +1.2 percent in the Middle Atlantic division. The 12-month changes were all positive, ranging from +0.5 percent in the Pacific division to +7.4 percent in the Middle Atlantic division.

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 over 400 American cities. It incorporates millions of home sales and offers insights into house price changes at the national, census division, state, metro area, county, ZIP code and census tract levels.

FHFA releases HPI data and reports quarterly and monthly. The FHFA HPI uses seasonally adjusted, purchase-only data from Fannie Mae and Freddie Mac.

The next HPI report will be released July 29 and will include monthly data through May 2025.