Burlington, NC Federal Housing Finance Agency Home Price Index (FHFA HPI)

The Burlington, NC, Federal Housing Finance Agency (FHFA) House Price Index (HPI) is a weighted, repeat-sales index that measures average price changes in repeat sales or refinancings on the same properties. The index covers single-family homes and condominiums. The HPI value for a particular geographic area is the weighted sum of the indices for all counties in that area.

As of the fourth quarter of 2019, the HPI for Burlington was 176.7, up 5.1% from a year earlier. This means that home prices in Burlington have increased at a faster rate than the national average over the past year.

The HPI is based on data from Fannie Mae and Freddie Mac's conventional mortgage portfolios, which cover about two-thirds of all U.S. mortgages outstanding. The HPI includes data on sales of both new and existing homes as well as refinance transactions on properties that have been previously sold or refinanced through Fannie Mae or Freddie Mac within the past 15 years.

The HPI is designed to provide a timely measure of house price trends at different geographic levels using data from Fannie Mae and Freddie Mac's conventional mortgage portfolios. The index can be used to help assess risk in local housing markets, as well as to monitor house price trends at different geographic levels over time