Mission Statement:
To promote a stable and liquid mortgage market, affordable housing and community investment through safety and soundness oversight of Fannie Mae, Freddie Mac and the Federal Home Loan Banks.
Contact Us
Site Map
Subscribe
Advanced Search
About FHFA
Mission
Agency Plans and Reports
Budget, Performance & Accountability
OFHEO Strategic Plans
OFHEO Performance Budgets and Plans
OFHEO Performance and Accountability Report
Comments on OFHEO's Draft Strategic Plan for FY 2006 -- 2011
Careers at FHFA
EEO
Meet the Director
Former Regulators
FHFB
HUD
OFHEO
Enterprises
FHLBank Information
FHLBank Districts
FHLBank Members
FHLBank Directors
Overview
Appointed Directors
Elected Directors
Housing Community Investments
Housing Community
Economic Development programs
FHLBank Advisory Council Reports and Community Lending Plans
Community Support Program
Fannie Mae
Fannie Mae Charter Act
Freddie Mac
Freddie Mac Charter Act
Fannie/Freddie Public Disclosures
Supervision and Regulations
Regulations, Notices and Public Comments
OFHEO Annual Reports to Congress
Supervision of Fannie Mae & Freddie Mac
Conforming Loan Limit
Rulemaking
Agency Guidance
Laws
Agency Actions
FHLBank Exam Manual
OFHEO Supervision Handbook
House Price Index
About HPI
HPI Technical Description
HPI Focus Pieces
HPI Release Dates
Frequently Asked Questions
State HPI Data
City HPI Data
Regional HPI Data
Quarterly HPI
Monthly HPI
HPI Calculator
Downloadable Data
HPI Historical Reports
Capital
Capital Under Conservatorship
Capital Prior to Conservatorship
New Activities
Subordinated Debt
Research and Analysis
Housing Market Indicators
Market Data
Research Papers
Staff Working Papers
Mortgage Market Notes
Public Information
Agency Reports
FOIA
News Center
News Releases
Testimony
Statements
Speeches
Media Advisories
Petitions
Meetings and Hearings
Consumer Information
News Center Archive
News Releases Archive
Testimony Archive
Statements Archive
Speeches Archive
Other Links
Office of the Inspector General
About Us
Current Events
Hotline
Planned OIG Work
Audit Reports
Management Challenges
OIG Performance Reports
OIG Testimonies
OIG FOIA Requests
OIG Employment Opportunities
FHFB OIG Website
House Price Index
About HPI
HPI Technical Description
HPI Focus Pieces
HPI Release Dates
Frequently Asked Questions
State HPI Data
City HPI Data
Regional HPI Data
Quarterly HPI
Monthly HPI
HPI Calculator
Downloadable Data
HPI Historical Reports
Frequently Asked Questions
HOUSE PRICE INDEX FREQUENTLY ASKED QUESTIONS
(updated February 2009)
(All)
1. What is the value of the HPI?
2. What transactions are covered in the HPI?
3. How is the HPI computed?
4. How often is the HPI published?
5. How is the HPI updated?
6. How do I interpret “four-quarter,” “one-year,” “annual,” and “one-quarter” price changes?
7. How are Metropolitan Statistical Areas (MSAs) and Metropolitan Divisions defined and what criteria are used to determine whether an MSA index is published?
8. Does FHFA use the November 2008 revised Metropolitan Statistical Areas (MSAs) and Divisions?
9. What geographic areas are covered by the House Price Index?
10. Where can I access MSA index numbers and standard errors for each year and quarter?
11. Why is the HPI based on Fannie Mae or Freddie Mac mortgages?
12. How does the House Price Index differ from the Census Bureau’s Constant Quality House Price Index (CQHPI)?
13. How does the HPI differ from the S&P/Case-Shiller® Home Price indexes?
14. What role do Fannie Mae and Freddie Mac play in the House Price Index?
15. What is the methodology used by FHFA in computing the Index?
16. A Note Regarding Downloadable ASCII Data
17. Is the HPI adjusted for inflation?
18. How do I use the manipulatable data (in TXT files) on the Web site to calculate appreciation rates?
19. How is FHFA's House Price Index constructed for MSAs? The Web site says that you use the 2008 definitions based on the 2000 Census to define each MSA. Is this true for all time periods covered by each index? Or do the definitions change over time as the Census expanded its MSA definitions? For example, if the definition of an MSA added three counties between 1980 and 2000, would the value of the index in 1980 cover the three counties that were not included in the 1980 SMSA definition?
20. How can the House Price Index for an MSA be linked to zip codes within that MSA?
21. How and why is the HPI revised each quarter?
22. What transaction dates are used in estimating the index?
23. Are foreclosure sales included in the HPI?
24. How are the monthly House Price Indexes calculated?
25. How are the U.S. indexes constructed?
26. For those house price indexes that are seasonally-adjusted, what approach is used in performing the seasonal adjustment?