FHFA Purchase-Only Home Price Index

 

This monthly index measures paired repeat sales of single family homes. A larger Federal Housing Finance Authority index includes refinancing in its calculations while the Purchase-Only index eliminates appraised values.
Courtesy of Mortgage News Daily

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Federal Housing Finance Authority index includes home prices in nine Census Bureau divisions across 50 states and the District of Colombia. Because of the recent increase in government-backed mortgages the coverage of the index has increased and it is becoming a broader barometer of current housing prices.

All sales included in the index are backed by GSE-backed mortgages. By excluding non-conforming jumbo mortgages the index may understate deterioration.  It also excludes mortgage transactions on attached and multi-unit properties and properties financed by government guaranteed loans.

Because the S&P/Case-Shiller indices are broken down in three price tiers, it is possible to spot trends within the tiers.  Those indices as well as the FHFA index highlight how home prices changes have varied considerably across their respective universes.

– Courtesy of Mortgage News Daily