Camden, NJ (MSAD) Federal Housing Finance Agency Home Price Index (FHFA HPI)

The Camden, NJ Federal Housing Finance Agency (FHFA) house price index (HPI) is a weighted, repeat-sales index measuring average price changes in single-family houses in the Camden metropolitan area. The HPI is a broad measure of the movement of single-family house prices and covers both new and existing houses.

The FHFA HPI for Camden, NJ was released on March 31, 2016 and showed that home prices in the metro area increased by 1.3 percent from the fourth quarter of 2015 to the fourth quarter of 2016. This was slightly higher than the national rate of 1.2 percent over the same time period.

Looking at longer-term trends, home prices in Camden have been on an upward trend since bottoming out in early 2012. Prices have risen steadily since then, with a few small dips along the way. As of the fourth quarter of 2016, prices were about 18 percent higher than they were at their trough in early 2012.

There are several factors that have contributed to rising home prices in Camden over the past few years. One is simply that demand for housing has been increasing while supply has remained relatively tight. This is especially true for starter homes and other entry-level properties, which are in high demand but short supply due to limited new construction activity during and after the Great Recession. Another factor driving up prices is low mortgage rates, which make buying a home more affordable for many buyers who would otherwise be priced out of the market.

Looking ahead, it's possible that home price growth in Camden will moderate somewhat from its recent pace as interest rates begin to rise and more homes come onto the market due to increased new construction activity